Massachusetts Financial Services Co. MA Invests $2.52 Million in Garrett Motion Inc. $GTX

Massachusetts Financial Services Co. MA bought a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the 4th quarter, Holdings Channel.com reports. The fund bought 144,453 shares of the company’s stock, valued at approximately $2,518,000.

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the first quarter worth approximately $42,000. Tower Research Capital LLC TRC bought a new position in shares of Garrett Motion during the second quarter worth approximately $45,000. Harbor Capital Advisors Inc. increased its holdings in shares of Garrett Motion by 99.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company’s stock worth $60,000 after purchasing an additional 1,720 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Garrett Motion by 254.7% during the third quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock worth $84,000 after purchasing an additional 4,445 shares during the period. 86.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GTX has been the topic of several recent research reports. BWS Financial reaffirmed a “buy” rating and set a $22.00 target price on shares of Garrett Motion in a report on Thursday, April 9th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Freedom Capital raised shares of Garrett Motion to a “strong-buy” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.80.

Insiders Place Their Bets

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the sale, the chief executive officer owned 905,546 shares of the company’s stock, valued at approximately $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Julia Steyn sold 17,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the sale, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. The trade was a 25.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 337,000 shares of company stock valued at $6,839,290. 0.83% of the stock is currently owned by insiders.

Garrett Motion Price Performance

Shares of NYSE:GTX opened at $19.91 on Friday. The company’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $17.42. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 15.68 and a beta of 0.44. Garrett Motion Inc. has a 1 year low of $8.77 and a 1 year high of $21.42.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. Garrett Motion’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, March 2nd. Garrett Motion’s payout ratio is presently 21.05%.

Garrett Motion Company Profile

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.