24,611 Shares in Garrett Motion Inc. $GTX Bought by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in Garrett Motion Inc. (NASDAQ:GTX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,611 shares of the company’s stock, valued at approximately $447,000.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in Garrett Motion during the first quarter worth $42,000. Jane Street Group LLC lifted its stake in shares of Garrett Motion by 641.7% in the first quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after buying an additional 78,661 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Garrett Motion during the second quarter valued at about $121,000. Legal & General Group Plc grew its holdings in shares of Garrett Motion by 30.4% during the second quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock valued at $1,024,000 after buying an additional 22,727 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Garrett Motion during the second quarter worth about $225,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GTX shares. Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Stifel Nicolaus lifted their price target on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Garrett Motion currently has an average rating of “Moderate Buy” and an average target price of $35.40.

Garrett Motion Price Performance

NASDAQ GTX opened at $31.51 on Friday. Garrett Motion Inc. has a 1 year low of $12.09 and a 1 year high of $36.25. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 0.93 and a beta of 0.78. The company has a fifty day moving average price of $32.77 and a 200-day moving average price of $24.45.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, research analysts anticipate that Garrett Motion Inc. will post 1.81 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is 18.71%.

Insider Activity

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the transaction, the chief financial officer owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 124,885 shares of the company’s stock, valued at approximately $3,898,909.70. This 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 213,834 shares of company stock worth $6,918,710. Corporate insiders own 1.10% of the company’s stock.

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.