Smead Capital Management Inc. Makes New $4.26 Million Investment in Garrett Motion Inc. $GTX

Smead Capital Management Inc. acquired a new position in Garrett Motion Inc. (NASDAQ:GTX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 244,261 shares of the company’s stock, valued at approximately $4,257,000. Garrett Motion accounts for approximately 0.1% of Smead Capital Management Inc.’s portfolio, making the stock its 29th biggest position.

Other hedge funds also recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its position in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after acquiring an additional 1,422 shares during the period. Spire Wealth Management lifted its position in shares of Garrett Motion by 971.2% in the 4th 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 period. Global Retirement Partners LLC lifted its position in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Garrett Motion by 1,422.3% in the 4th 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 period. Finally, Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion in the 1st quarter worth approximately $42,000. Institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on GTX shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus raised their target price on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings started coverage on Garrett Motion in a research report on Wednesday, April 29th. They set a “buy (b)” rating for the company. Finally, BWS Financial raised their target price on Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Garrett Motion has an average rating of “Moderate Buy” and an average price target of $31.83.

Insiders Place Their Bets

In other news, Director Julia Steyn sold 17,000 shares of Garrett Motion stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total value of $337,620.00. Following the completion of the sale, the director directly owned 50,233 shares of the company’s stock, valued at approximately $997,627.38. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the completion of the sale, the director directly owned 124,885 shares of the company’s stock, valued at $3,898,909.70. This trade represents a 12.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 354,178 shares of company stock worth $7,375,587. 1.10% of the stock is owned by company insiders.

Garrett Motion Price Performance

Garrett Motion stock opened at $33.29 on Friday. The company has a market capitalization of $6.23 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.11 and a beta of 0.70. Garrett Motion Inc. has a one year low of $9.57 and a one year high of $34.34. The business has a 50 day simple moving average of $22.06 and a 200 day simple moving average of $19.43.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s payout ratio is presently 18.71%.

Garrett Motion 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.