Axiom Investors LLC DE Buys Shares of 871,165 Garrett Motion Inc. $GTX

Key Points

• Axiom Investors LLC DE disclosed a new fourth-quarter stake in Garrett Motion, buying 871,165 shares worth about $15.2 million, or roughly 0.45% of the company.
• Insider selling has been notable recently, with Director Daniel A. Ninivaggi and SVP Thierry Mabru both selling shares; insiders have sold 197,178 shares worth about $6.36 million over the past 90 days.
• Analysts remain cautiously positive on GTX, with a Moderate Buy consensus and an average price target of $31.83; the company also recently beat quarterly earnings and revenue estimates and announced a $0.08 quarterly dividend.

Axiom Investors LLC DE bought a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 871,165 shares of the company's stock, valued at approximately $15,184,000. Axiom Investors LLC DE owned 0.45% of Garrett Motion as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted 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 valued at $25,000 after purchasing an additional 1,422 shares during the period. Spire Wealth Management boosted its stake in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company's stock valued at $26,000 after purchasing an additional 1,350 shares during the period. Global Retirement Partners LLC raised its position 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 buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock worth $30,000 after buying an additional 1,593 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Garrett Motion by 361.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company's stock worth $49,000 after buying an additional 2,210 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the transaction, the director directly owned 124,885 shares of the company's stock, valued at $3,898,909.70. This trade represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Garrett Motion stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the transaction, the senior vice president directly owned 147,956 shares in the company, valued at approximately $4,882,548. This trade represents a 32.12% 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 have sold a total of 197,178 shares of company stock valued at $6,358,597 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

GTX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $24.00 price target on shares of Garrett Motion in a research report on Friday, May 1st. BWS Financial boosted their price target 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. Weiss Ratings initiated coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They set a "buy (b)" rating on the stock. Stifel Nicolaus boosted their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" 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 report 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 company. Based on data from MarketBeat, Garrett Motion has a consensus rating of "Moderate Buy" and an average price target of $31.83.

Garrett Motion Price Performance

NASDAQ GTX opened at $32.81 on Wednesday. The company's 50 day simple moving average is $25.65 and its 200 day simple moving average is $20.77. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $34.34. The company has a market capitalization of $6.14 billion, a P/E ratio of 19.19, a PEG ratio of 1.01 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $917.23 million. The firm's revenue was up 12.2% compared to the same quarter last year. On average, analysts anticipate 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 will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Garrett Motion's dividend payout ratio (DPR) is 18.71%.

Garrett Motion Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.