Hill City Capital LP Acquires Shares of 500,000 Garrett Motion Inc. $GTX

Hill City Capital LP bought a new stake in Garrett Motion Inc. (NASDAQ:GTX) during the 2nd quarter, HoldingsChannel reports. The firm bought 500,000 shares of the company’s stock, valued at approximately $18,115,000,000. Garrett Motion accounts for 0.4% of Hill City Capital LP’s investment portfolio, making the stock its 25th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of GTX. BlackRock Inc. purchased a new position in Garrett Motion in the 2nd quarter valued at about $461,794,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Garrett Motion during the 4th quarter worth approximately $180,383,000. LSV Asset Management raised its holdings in shares of Garrett Motion by 45.8% during the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after acquiring an additional 1,958,808 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 acquiring an additional 3,241,952 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Garrett Motion by 85.9% in the fourth quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock valued at $77,968,000 after acquiring an additional 2,067,264 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Insiders Place Their Bets

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction on 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 directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of Garrett Motion 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 owned 83,178 shares in the company, valued at approximately $2,813,079.96. This represents a 11.22% decrease in their position. 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 have sold 126,656 shares of company stock worth $4,072,413 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. BWS Financial reiterated a “buy” rating and set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, July 30th. Stifel Nicolaus raised 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. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Garrett Motion Price Performance

GTX opened at $27.43 on Friday. The company’s 50 day simple moving average is $30.95 and its two-hundred day simple moving average is $26.28. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.69 and a beta of 0.82.

Garrett Motion (NASDAQ:GTX) last issued its earnings results 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 negative return on equity of 46.50% and a net margin of 9.51%.The business had revenue of $976.00 million for the quarter. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Garrett Motion Inc. will post 1.91 earnings per share 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 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 payout ratio is 17.58%.

Garrett Motion 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.