Marnell Management LLC Makes New $3.94 Million Investment in Garrett Motion Inc. $GTX

Marnell Management LLC bought a new position in Garrett Motion Inc. (NASDAQ:GTX) in the 4th quarter, HoldingsChannel reports. The fund bought 225,971 shares of the company’s stock, valued at approximately $3,939,000. Garrett Motion accounts for about 1.9% of Marnell Management LLC’s holdings, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC grew its position in Garrett Motion by 156.7% in 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. D Orazio & Associates Inc. grew its position in Garrett Motion by 7.2% in 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 during the last quarter. Spire Wealth Management grew its position in Garrett Motion by 971.2% in 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. Cullen Frost Bankers Inc. grew its position in Garrett Motion by 7,110.0% in 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 during the last quarter. Finally, Baron Wealth Management LLC grew its position in Garrett Motion by 6.3% in 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 during the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

GTX stock opened at $33.56 on Monday. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $34.42. The firm has a market cap of $6.28 billion, a PE ratio of 19.63, a P/E/G ratio of 1.05 and a beta of 0.79. The firm has a 50 day simple moving average of $26.55 and a 200 day simple moving average of $21.12.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating 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 business had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts expect that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Dividend Announcement

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

Analyst Upgrades and Downgrades

GTX has been the subject of several recent analyst reports. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, May 21st. BWS Financial upped their target price on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their price target on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Weiss Ratings assumed coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Finally, Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.83.

Insider Activity at Garrett Motion

In related news, CFO Sean Deason sold 110,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were 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 $8,362,754.37. This represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the 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 sale, the director directly owned 124,885 shares of the company’s stock, valued at approximately $3,898,909.70. This represents a 12.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 197,178 shares of company stock valued at $6,358,597 over the last ninety days. Insiders own 1.10% of the company’s stock.

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.