Garrett Motion Inc. $GTX Holdings Raised by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Garrett Motion Inc. (NASDAQ:GTX) by 54.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 398,397 shares of the company’s stock after buying an additional 140,254 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of Garrett Motion worth $14,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wesbanco Bank Inc. lifted its stake in Garrett Motion by 75.0% in the fourth quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock valued at $1,831,000 after acquiring an additional 45,000 shares during the last quarter. Castleark Management LLC bought a new stake in Garrett Motion in the second quarter worth $17,009,000. Smead Capital Management Inc. acquired a new position in Garrett Motion during the fourth quarter worth $4,257,000. JB Capital Partners LP bought a new position in Garrett Motion during the second quarter valued at about $3,296,930. Finally, Carmel Capital Management L.L.C. acquired a new stake in shares of Garrett Motion in the first quarter worth about $5,719,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Daniel Deiro sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total value of $801,000.00. Following the sale, the senior vice president owned 133,783 shares in the company, valued at approximately $3,572,006.10. The trade was a 18.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Rodrigues sold 10,516 shares of the 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 sale, the senior vice president owned 83,178 shares of the company’s stock, valued at $2,813,079.96. This trade 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. Over the last three months, insiders have sold 66,656 shares of company stock valued at $1,898,913. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft raised 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 research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Finally, BWS Financial reissued a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Garrett Motion Stock Performance

Shares of GTX stock opened at $27.97 on Friday. Garrett Motion Inc. has a 52-week low of $12.26 and a 52-week high of $36.25. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.72 and a beta of 0.79. The firm has a fifty day moving average of $30.08 and a 200-day moving average of $26.52.

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

Garrett Motion Announces Dividend

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. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s dividend payout ratio is currently 17.58%.

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.