SG Americas Securities LLC Buys 302,168 Shares of Garrett Motion Inc. $GTX

SG Americas Securities LLC boosted its position in shares of Garrett Motion Inc. (NASDAQ:GTX) by 179.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 470,257 shares of the company’s stock after purchasing an additional 302,168 shares during the quarter. SG Americas Securities LLC’s holdings in Garrett Motion were worth $8,545,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares during the period. Spire Wealth Management lifted its stake in shares of Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after acquiring an additional 1,350 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 970 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after acquiring an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in Garrett Motion in the first quarter valued at about $42,000. 86.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the sale, the chief financial officer owned 261,909 shares in the company, valued at $8,362,754.37. This represents a 29.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the sale, the senior vice president owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. This represents a 32.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 213,834 shares of company stock valued at $6,918,710. 1.10% of the stock is currently owned by company insiders.

Garrett Motion Stock Up 0.3%

NASDAQ:GTX opened at $35.11 on Friday. Garrett Motion Inc. has a 12-month low of $10.23 and a 12-month high of $35.41. The firm has a market capitalization of $6.57 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.10 and a beta of 0.79. The stock’s fifty day simple moving average is $29.63 and its 200-day simple moving average is $22.33.

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

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.9%. Garrett Motion’s dividend payout ratio (DPR) is 18.71%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Garrett Motion from $30.00 to $33.00 and gave the stock 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 note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.