Hill City Capital LP purchased a new position in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 500,000 shares of the company's stock, valued at approximately $18,115,000,000. Garrett Motion accounts for about 0.4% of Hill City Capital LP's portfolio, making the stock its 25th biggest holding. Hill City Capital LP owned about 0.27% of Garrett Motion at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Comerica Bank raised its position in Garrett Motion by 22.0% during the 4th quarter. Comerica Bank now owns 251,371 shares of the company's stock worth $4,381,000 after buying an additional 45,370 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in Garrett Motion by 75.0% during the 4th quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company's stock valued at $1,831,000 after acquiring an additional 45,000 shares during the period. Castleark Management LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter valued at $17,009,000. Smead Capital Management Inc. purchased a new stake in shares of Garrett Motion in the 4th quarter valued at $4,257,000. Finally, Carmel Capital Management L.L.C. acquired a new stake in shares of Garrett Motion in the first quarter worth $5,719,000. Hedge funds and other institutional investors own 86.27% of the company's stock.
Garrett Motion Price Performance
Shares of NASDAQ GTX opened at $27.43 on Friday. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 0.69 and a beta of 0.82. The firm's 50 day simple moving average is $30.95 and its 200-day simple moving average is $26.28. Garrett Motion Inc. has a 12 month low of $12.26 and a 12 month high of $36.25.
Garrett Motion (NASDAQ:GTX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.07. The firm had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.42 earnings per share. Analysts anticipate that Garrett Motion Inc. will post 1.91 earnings per share for the current fiscal year.
Garrett Motion Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Garrett Motion's dividend payout ratio (DPR) is 17.58%.
Wall Street Analysts Forecast Growth
GTX has been the subject of several recent research reports. Stifel Nicolaus raised their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. BWS Financial reaffirmed a "buy" rating and issued a $42.00 price target on shares of Garrett Motion in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a "hold" rating to a "buy" rating and increased their price target for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research note on Thursday, May 21st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Garrett Motion in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.60.
View Our Latest Research Report on GTX
Insider Transactions at Garrett Motion
In related news, SVP Mark Albert Rodrigues sold 6,140 shares of Garrett Motion stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the transaction, the senior vice president owned 77,038 shares in the company, valued at $2,565,365.40. The trade was a 7.38% decrease in their position. The sale 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, CFO Sean Deason sold 110,000 shares of the company's stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 261,909 shares of the company's stock, valued at $8,362,754.37. The trade was a 29.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 126,656 shares of company stock worth $4,072,413 over the last 90 days. Insiders own 1.10% of the company's stock.
About Garrett Motion
(
Free Report)
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.
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