Garrett Motion Inc. $GTX Stock Holdings Lifted by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. raised its position in Garrett Motion Inc. (NASDAQ:GTX) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,110,335 shares of the company’s stock after buying an additional 98,771 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Garrett Motion were worth $19,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its stake 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 in the last quarter. Spire Wealth Management increased its stake in shares of Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Garrett Motion by 156.7% during the 4th 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 last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of 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 purchasing an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 1.6%

Shares of NASDAQ:GTX opened at $32.76 on Friday. The business has a 50 day moving average price of $23.65 and a 200 day moving average price of $19.99. Garrett Motion Inc. has a twelve month low of $9.57 and a twelve month high of $34.34. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.11 and a beta of 0.70.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. The business’s revenue was up 12.2% on a year-over-year basis. Analysts anticipate that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is currently 18.71%.

Insider Activity at Garrett Motion

In other Garrett Motion news, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the completion of the sale, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. This trade represents a 12.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GTX. Stifel Nicolaus increased their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. upped their price target on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. Finally, Weiss Ratings began coverage on Garrett Motion in a research note on Wednesday, April 29th. They set a “buy (b)” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

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.