Convergence Investment Partners LLC Sells 69,963 Shares of Garrett Motion Inc. $GTX

Key Points

• Convergence Investment Partners cut its Garrett Motion stake by 60.6% in the fourth quarter, selling 69,963 shares and leaving it with 45,529 shares valued at about $794,000.
• Garrett Motion reported a solid quarter, with EPS of $0.49 topping estimates and revenue of $985 million also beating forecasts, while revenue rose 12.2% year over year.
• Despite some insider selling, analyst sentiment remains constructive: several firms raised price targets or reiterated buy ratings, and Garrett Motion also announced a quarterly dividend of $0.08 per share.

Convergence Investment Partners LLC trimmed its stake in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 60.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,529 shares of the company's stock after selling 69,963 shares during the quarter. Convergence Investment Partners LLC's holdings in Garrett Motion were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management raised its position 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 worth $26,000 after acquiring an additional 1,350 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Garrett Motion by 1,422.3% during 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 during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the first quarter worth about $42,000. Tower Research Capital LLC TRC bought a new position in shares of Garrett Motion during the second quarter worth about $45,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Garrett Motion by 99.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company's stock worth $60,000 after acquiring an additional 1,720 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Trending Headlines about Garrett Motion

Here are the key news stories impacting Garrett Motion this week:

• Positive Sentiment: JPMorgan Chase raised its price target on Garrett Motion and reiterated an overweight/buy-type stance, signaling confidence in the company’s near-term upside. JPMorgan Raises Garrett Motion Price Target
• Positive Sentiment: Analysts also highlighted rising earnings estimate revisions, which often supports a stock as investors grow more optimistic about future profits. Rising Earnings Estimates Article
• Positive Sentiment: News that Garrett Motion’s partnership with Ingersoll Rand is fitting into strong share-price momentum suggests investors are rewarding strategic progress and business execution. Garrett Motion Partnership With Ingersoll Rand
• Positive Sentiment: The company also lifted its 2026 outlook after a strong first quarter, reinforcing the view that fundamentals are improving. Garrett Motion Lifts 2026 Outlook After Strong Q1
• Neutral Sentiment: Director Daniel A. Ninivaggi sold 17,178 shares in a pre-arranged Rule 10b5-1 transaction. While insider sales can draw attention, the planned nature of the trade makes it less concerning than an open-market sale. SEC Filing for Insider Sale

Garrett Motion Stock Down 2.8%

NASDAQ GTX opened at $30.98 on Friday. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.03 and a beta of 0.70. Garrett Motion Inc. has a 52 week low of $9.57 and a 52 week high of $32.44. The business has a 50 day moving average price of $20.76 and a 200-day moving average price of $18.93.

Garrett Motion (NASDAQ:GTX - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company's quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Garrett Motion's payout ratio is currently 18.71%.

Insider Transactions at Garrett Motion

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the transaction, the director owned 124,885 shares of the company's stock, valued at $3,898,909.70. The trade was a 12.09% decrease in their ownership of the stock. The sale 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, Director Julia Steyn sold 17,000 shares of Garrett Motion stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total value of $337,620.00. Following the transaction, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. The trade was a 25.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 354,178 shares of company stock worth $7,375,587. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GTX. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st. Stifel Nicolaus lifted their target price on Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings assumed coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a "buy (b)" rating for the company. Freedom Capital downgraded Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, BWS Financial lifted their target price on Garrett Motion from $22.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Garrett Motion has a consensus rating of "Moderate Buy" and an average target price of $27.80.

Garrett Motion 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.

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).

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.