Algert Global LLC decreased its stake in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 612,730 shares of the company's stock after selling 58,610 shares during the quarter. Algert Global LLC owned about 0.33% of Garrett Motion worth $22,199,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of GTX. Persistent Asset Partners Ltd acquired a new stake in shares of Garrett Motion in the 2nd quarter valued at about $27,000. Cullen Frost Bankers Inc. raised its stake in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after buying an additional 1,422 shares during the period. Global Retirement Partners LLC raised its stake in 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 buying 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 worth $30,000 after acquiring an additional 1,593 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in Garrett Motion in the second quarter valued at approximately $64,000. Institutional investors own 86.27% of the company's stock.
Garrett Motion Trading Down 2.9%
Shares of NASDAQ:GTX opened at $25.84 on Tuesday. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25. The stock has a market cap of $4.82 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82. The stock's fifty day simple moving average is $31.38 and its two-hundred day simple moving average is $26.10.
Garrett Motion (NASDAQ:GTX - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company had revenue of $976.00 million during the quarter. During the same quarter in the prior year, the company earned $0.42 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Garrett Motion Inc. will post 1.91 earnings per share for the current fiscal year.
Garrett Motion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion's payout ratio is currently 17.58%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on GTX. Wall Street Zen lowered Garrett Motion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Zacks Research downgraded shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Stifel Nicolaus boosted their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. BWS Financial restated a "buy" rating and set a $42.00 price objective on shares of Garrett Motion in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garrett Motion in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.60.
Check Out Our Latest Analysis on Garrett Motion
Insider Buying and Selling at Garrett Motion
In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. This represents a 32.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $33.82, for a total value of $355,651.12. Following the sale, the senior vice president directly owned 83,178 shares of the company's stock, valued at approximately $2,813,079.96. This represents a 11.22% 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. Insiders sold 196,656 shares of company stock worth $6,382,413 in the last quarter. 1.10% of the stock is currently owned by company insiders.
Garrett Motion Profile
(
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.
Further Reading
Want to see what other hedge funds are holding GTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garrett Motion Inc. (NASDAQ:GTX - Free Report).
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