500,000 Shares in Garrett Motion Inc. $GTX Acquired by Hill City Capital LP

Hill City Capital LP purchased a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 500,000 shares of the company’s stock, valued at approximately $18,115,000. Garrett Motion comprises approximately 0.0% of Hill City Capital LP’s portfolio, making the stock its 25th biggest holding. Hill City Capital LP owned approximately 0.27% of Garrett Motion as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd bought a new position in Garrett Motion in the second quarter worth about $27,000. Cullen Frost Bankers Inc. raised its holdings in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after acquiring an additional 1,422 shares during the period. Global Retirement Partners LLC raised its position in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares during the last quarter. Allworth Financial LP bought a new position in shares of Garrett Motion in the second quarter valued at $64,000. Finally, PNC Financial Services Group Inc. increased its holdings in Garrett Motion by 361.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock worth $49,000 after acquiring an additional 2,210 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Performance

Shares of Garrett Motion stock traded down $0.77 during trading hours on Friday, reaching $26.66. 2,364,795 shares of the company were exchanged, compared to its average volume of 2,591,867. The stock’s fifty day moving average is $30.95 and its 200 day moving average is $26.28. The firm has a market cap of $4.97 billion, a PE ratio of 14.65, a PEG ratio of 0.69 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.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $976.00 million for the quarter. During the same quarter in the previous year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts expect that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is 17.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GTX shares. JPMorgan Chase & Co. boosted their target price on Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and lifted their price target for the company from $33.00 to $36.00 in a report on Thursday, July 30th. Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Stifel Nicolaus lifted their price objective on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a research report on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Insider Buying and Selling

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of the stock in a transaction dated 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 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 ownership of the stock. 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, 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 transaction of $355,651.12. Following the completion of the sale, the senior vice president owned 83,178 shares in the company, valued at $2,813,079.96. This represents a 11.22% 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 126,656 shares of company stock valued at $4,072,413. 1.10% of the stock is 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.