18,434 Shares in Garrett Motion Inc. $GTX Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in shares of Garrett Motion Inc. (NASDAQ:GTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,434 shares of the company’s stock, valued at approximately $321,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Global Retirement Partners LLC increased its position in 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 in the last quarter. D Orazio & Associates Inc. increased its position in Garrett Motion by 7.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock worth $206,000 after purchasing an additional 1,015 shares in the last quarter. Spire Wealth Management increased its position in 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 in the last quarter. Cullen Frost Bankers Inc. increased its position in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after purchasing an additional 1,422 shares in the last quarter. Finally, Baron Wealth Management LLC increased its position in Garrett Motion by 6.3% during the 4th quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock worth $461,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Buying and Selling at Garrett Motion

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

Garrett Motion Stock Performance

Garrett Motion stock opened at $32.76 on Monday. Garrett Motion Inc. has a 52 week low of $9.57 and a 52 week high of $34.34. The stock has a market cap of $6.13 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79. The stock has a 50 day moving average of $23.65 and a 200-day moving average of $20.01.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The business had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. The company’s revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend 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 presently 18.71%.

Analyst Ratings Changes

A number of research firms recently issued reports on GTX. Stifel Nicolaus increased their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Freedom Capital downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

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.