Garrett Motion Inc. $GTX Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Garrett Motion Inc. (NASDAQ:GTX) by 5.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,424,546 shares of the company’s stock after acquiring an additional 234,735 shares during the period. Vanguard Group Inc.’s holdings in Garrett Motion were worth $77,120,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC boosted its holdings in Garrett Motion by 51.0% in the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after purchasing an additional 2,605,296 shares during the period. LSV Asset Management purchased a new position in Garrett Motion in the third quarter valued at $58,247,000. Dimensional Fund Advisors LP boosted its holdings in Garrett Motion by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,186,089 shares of the company’s stock valued at $43,390,000 after purchasing an additional 70,155 shares during the period. Merewether Investment Management LP purchased a new position in Garrett Motion in the third quarter valued at $40,590,000. Finally, BlueCrest Capital Management Ltd purchased a new position in Garrett Motion in the third quarter valued at $36,539,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GTX shares. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, BWS Financial lifted their target price on Garrett Motion from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

Garrett Motion Price Performance

Shares of NASDAQ GTX opened at $31.35 on Thursday. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.70. The business has a 50-day moving average of $20.27 and a two-hundred day moving average of $18.74. Garrett Motion Inc. has a 1 year low of $9.57 and a 1 year high of $31.58.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts expect that Garrett Motion Inc. will post 1.81 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Garrett Motion’s payout ratio is 18.71%.

Insiders Place Their Bets

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of Garrett Motion stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the completion of the sale, the director directly owned 50,233 shares of the company’s stock, valued at $997,627.38. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the sale, the senior vice president directly owned 160,994 shares of the company’s stock, valued at $3,266,568.26. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 337,000 shares of company stock valued at $6,839,290 in the last ninety days. Insiders own 1.10% of the company’s stock.

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.