OMERS ADMINISTRATION Corp Boosts Stake in Garrett Motion Inc. $GTX

OMERS ADMINISTRATION Corp grew its position in shares of Garrett Motion Inc. (NASDAQ:GTX) by 20.4% during the first quarter, Holdings Channel reports. The firm owned 120,765 shares of the company’s stock after acquiring an additional 20,500 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Garrett Motion were worth $2,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GTX. Cullen Frost Bankers Inc. boosted its stake in shares of Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after purchasing an additional 1,422 shares during the period. Spire Wealth Management increased its stake in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after buying an additional 1,350 shares during the period. Global Retirement Partners LLC lifted its holdings in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after buying an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Garrett Motion in the 1st quarter valued at approximately $42,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Price Performance

Shares of NASDAQ:GTX opened at $29.92 on Wednesday. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25. The stock has a market cap of $5.60 billion, a P/E ratio of 17.50, a P/E/G ratio of 0.91 and a beta of 0.78. The firm has a fifty day moving average price of $32.78 and a 200 day moving average price of $24.67.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion’s quarterly revenue was up 12.2% on a year-over-year basis. Sell-side analysts expect that Garrett Motion Inc. will post 1.81 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GTX shares. JPMorgan Chase & Co. upped their price objective on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research report on Thursday, May 21st. Weiss Ratings started coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating for the company. BWS Financial reaffirmed a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Monday, July 6th. Finally, Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Four 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, the stock has an average rating of “Moderate Buy” and an average target price of $35.40.

Insider Buying and Selling

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the sale, the senior vice president directly owned 147,956 shares in the company, valued at approximately $4,882,548. The trade was a 32.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the transaction, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. The trade was a 29.58% 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. Insiders sold 213,834 shares of company stock valued at $6,918,710 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.