Garrett Motion Inc. $GTX Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its position in Garrett Motion Inc. (NASDAQ:GTX) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 246,671 shares of the company’s stock after acquiring an additional 18,385 shares during the period. Lazard Asset Management LLC owned about 0.13% of Garrett Motion worth $4,482,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Garrett Motion during the fourth quarter worth $180,383,000. LSV Asset Management increased its stake in Garrett Motion by 45.8% in the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after purchasing an additional 1,958,808 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Garrett Motion by 170.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after purchasing an additional 3,241,952 shares during the last quarter. Marshall Wace LLP lifted its position in Garrett Motion by 85.9% during the fourth quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock worth $77,968,000 after buying an additional 2,067,264 shares during the period. Finally, Vanguard Group Inc. lifted its position in Garrett Motion by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company’s stock worth $77,120,000 after buying an additional 234,735 shares during the period. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Garrett Motion Price Performance

Shares of NASDAQ:GTX opened at $31.15 on Friday. The firm has a market capitalization of $5.81 billion, a PE ratio of 17.12, a P/E/G ratio of 0.92 and a beta of 0.78. The business has a 50-day moving average of $32.66 and a two-hundred day moving average of $24.88. Garrett Motion Inc. has a 12 month low of $12.26 and a 12 month high of $36.25.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $976.00 million for the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. As a group, research analysts anticipate that Garrett Motion Inc. will post 1.81 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Garrett Motion’s dividend payout ratio is 17.58%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GTX. JPMorgan Chase & Co. raised their price target on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a report on Thursday, May 21st. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and increased their price target for the stock from $33.00 to $36.00 in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Garrett Motion presently has an average rating of “Moderate Buy” and an average target price of $37.80.

Insider Buying and Selling at Garrett Motion

In related news, 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 transaction, the chief financial officer owned 261,909 shares in the company, valued at approximately $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 213,834 shares of company stock worth $6,918,710. 1.10% of the stock is currently owned by corporate insiders.

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.