S Squared Technology LLC Invests $7.79 Million in Garrett Motion Inc. $GTX

S Squared Technology LLC purchased a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 215,000 shares of the company’s stock, valued at approximately $7,789,450. Garrett Motion comprises 0.0% of S Squared Technology LLC’s investment portfolio, making the stock its 17th biggest holding. S Squared Technology LLC owned 0.12% of Garrett Motion at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. lifted its position in 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. Persistent Asset Partners Ltd acquired a new stake in shares of Garrett Motion during the second quarter worth approximately $27,000. Global Retirement Partners LLC increased its stake in shares of Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after acquiring an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in Garrett Motion in the first quarter valued at approximately $42,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Garrett Motion

In other news, CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction 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 completion of the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. The trade was a 29.58% decrease in their position. The transaction 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, SVP Mark Albert Rodrigues sold 10,516 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the transaction, the senior vice president directly owned 83,178 shares in the company, valued at approximately $2,813,079.96. This represents a 11.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 126,656 shares of company stock valued at $4,072,413 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price objective on shares of Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, August 10th. BWS Financial restated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a research report on Thursday, July 30th. Finally, Stifel Nicolaus upped their target price 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. Five equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Garrett Motion Price Performance

NASDAQ:GTX traded down $0.61 during trading hours on Friday, reaching $26.82. 1,465,718 shares of the stock were exchanged, compared to its average volume of 2,585,003. The firm has a 50 day moving average of $30.95 and a 200 day moving average of $26.28. Garrett Motion Inc. has a twelve month low of $12.26 and a twelve month high of $36.25. The stock has a market cap of $5.00 billion, a PE ratio of 14.74, a PEG ratio of 0.69 and a beta of 0.82.

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

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Garrett Motion’s dividend payout ratio 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.