557,101 Shares in Garrett Motion Inc. $GTX Acquired by Four Tree Island Advisory LLC

Four Tree Island Advisory LLC bought a new position in shares of Garrett Motion Inc. (NASDAQ:GTX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 557,101 shares of the company’s stock, valued at approximately $20,184,000. Garrett Motion accounts for 6.7% of Four Tree Island Advisory LLC’s holdings, making the stock its 6th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Garrett Motion in the 2nd quarter valued at $461,794,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Garrett Motion during the 4th quarter worth $180,383,000. LSV Asset Management lifted its stake in shares of Garrett Motion by 45.8% during the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock worth $108,683,000 after purchasing an additional 1,958,808 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Garrett Motion by 170.9% during 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 in the last quarter. Finally, Marshall Wace LLP boosted 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 valued at $77,968,000 after purchasing an additional 2,067,264 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GTX. BWS Financial reiterated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a report on Thursday, July 30th. Stifel Nicolaus raised their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Finally, Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Insider Buying and Selling at Garrett Motion

In other news, SVP Mark Albert Rodrigues sold 10,516 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the completion of the transaction, the senior vice president owned 83,178 shares of the company’s stock, valued at $2,813,079.96. The trade was a 11.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the sale, the chief financial officer owned 261,909 shares in the company, valued at $8,362,754.37. The trade was a 29.58% decrease in their position. 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. In the last quarter, insiders sold 196,656 shares of company stock worth $6,382,413. Insiders own 1.10% of the company’s stock.

Garrett Motion Price Performance

NASDAQ:GTX opened at $27.91 on Wednesday. The firm has a market capitalization of $5.20 billion, a P/E ratio of 15.34, a PEG ratio of 0.74 and a beta of 0.82. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25. The company’s fifty day moving average price is $31.93 and its 200-day moving average price is $25.87.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities analysts anticipate that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. Garrett Motion’s dividend payout ratio (DPR) is presently 17.58%.

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.