Ruffer LLP Sells 84,231 Shares of Garrett Motion Inc. $GTX

Ruffer LLP reduced its stake in Garrett Motion Inc. (NYSE:GTX) by 31.1% during the fourth quarter, HoldingsChannel reports. The fund owned 186,239 shares of the company’s stock after selling 84,231 shares during the period. Ruffer LLP’s holdings in Garrett Motion were worth $3,251,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GTX. Spire Wealth Management grew its stake in shares of Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after acquiring an additional 1,593 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion in the first quarter worth $42,000. Tower Research Capital LLC TRC purchased a new stake in shares of Garrett Motion in the second quarter worth $45,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Garrett Motion by 99.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company’s stock worth $60,000 after acquiring an additional 1,720 shares during the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Garrett Motion

In related news, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total transaction of $405,800.00. Following the sale, the senior vice president directly owned 160,994 shares of the company’s stock, valued at $3,266,568.26. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total value of $2,926,080.00. Following the sale, the chief executive officer directly owned 905,546 shares in the company, valued at $18,400,694.72. This trade represents a 13.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 337,000 shares of company stock valued at $6,839,290 over the last ninety days. Insiders own 0.83% of the company’s stock.

Garrett Motion Price Performance

Garrett Motion stock opened at $19.88 on Wednesday. Garrett Motion Inc. has a one year low of $8.87 and a one year high of $21.42. The stock has a market capitalization of $3.74 billion, a PE ratio of 15.65 and a beta of 0.44. The business’s fifty day moving average is $18.99 and its 200 day moving average is $17.56.

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

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. Garrett Motion’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GTX. BWS Financial reissued a “buy” rating and issued a $22.00 target price on shares of Garrett Motion in a research note on Thursday, April 9th. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Freedom Capital raised Garrett Motion to a “strong-buy” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Garrett Motion has an average rating of “Moderate Buy” and a consensus price target of $18.80.

About Garrett Motion

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.