514,400 Shares in Garrett Motion Inc. $GTX Acquired by Castleark Management LLC

Castleark Management LLC bought a new position in shares of Garrett Motion Inc. (NASDAQ:GTX) during the fourth quarter, Holdings Channel reports. The fund bought 514,400 shares of the company’s stock, valued at approximately $8,966,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new stake in Garrett Motion during the 4th quarter worth approximately $180,383,000. William Blair Investment Management LLC grew its holdings in shares of Garrett Motion by 51.0% during the 3rd 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 last quarter. LSV Asset Management grew its holdings in shares of Garrett Motion by 45.8% during the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after purchasing an additional 1,958,808 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Garrett Motion by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company’s stock valued at $77,120,000 after purchasing an additional 234,735 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Garrett Motion by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 3,881,043 shares of the company’s stock valued at $67,655,000 after purchasing an additional 380,729 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Insider Transactions at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the completion of the sale, the director directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction 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 approximately $8,362,754.37. This represents a 29.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 197,178 shares of company stock valued at $6,358,597. Company insiders own 1.10% of the company’s stock.

Garrett Motion Stock Up 0.5%

Shares of GTX opened at $33.56 on Friday. The firm has a fifty day simple moving average of $26.55 and a two-hundred day simple moving average of $21.09. Garrett Motion Inc. has a twelve month low of $9.57 and a twelve month high of $34.42. The stock has a market capitalization of $6.28 billion, a P/E ratio of 19.63, a PEG ratio of 1.05 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Sell-side analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on GTX. Stifel Nicolaus increased their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, Weiss Ratings initiated coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating on the stock. One equities research 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. Based on data from MarketBeat.com, Garrett Motion currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

Garrett Motion Company 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.