Gamco Investors INC. ET AL Has $35.48 Million Holdings in Garrett Motion Inc. $GTX

Gamco Investors INC. ET AL trimmed its holdings in Garrett Motion Inc. (NASDAQ:GTX) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,952,874 shares of the company’s stock after selling 92,954 shares during the quarter. Gamco Investors INC. ET AL owned 1.04% of Garrett Motion worth $35,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GTX. Convergence Investment Partners LLC raised its stake in Garrett Motion by 0.9% during the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after purchasing an additional 423 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Garrett Motion by 22.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after purchasing an additional 629 shares during the last quarter. Baron Wealth Management LLC grew its position in Garrett Motion by 3.3% in the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock worth $496,000 after purchasing an additional 878 shares during the last quarter. Global Retirement Partners LLC increased its holdings 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 period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Garrett Motion by 2.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock valued at $707,000 after acquiring an additional 995 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GTX shares. JPMorgan Chase & Co. raised their target price on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings initiated coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Stifel Nicolaus raised 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. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

Garrett Motion Price Performance

Shares of NASDAQ:GTX opened at $31.51 on Friday. The business’s fifty day moving average price is $32.77 and its two-hundred day moving average price is $24.45. Garrett Motion Inc. has a fifty-two week low of $12.09 and a fifty-two week high of $36.25. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78.

Garrett Motion (NASDAQ:GTX) last issued 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 company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts expect that Garrett Motion Inc. will post 1.81 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

Insider Activity

In other news, CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction that occurred 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 transaction, the chief financial officer owned 261,909 shares in the company, valued at approximately $8,362,754.37. The trade was a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $31.22, for a total value of $536,297.16. Following 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 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. Over the last three months, insiders have sold 213,834 shares of company stock worth $6,918,710. 1.10% of the stock is currently owned by insiders.

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.