Counterpoint Mutual Funds LLC Makes New Investment in Garrett Motion Inc. $GTX

Key Points

• Counterpoint Mutual Funds LLC has acquired a new stake in Garrett Motion Inc., purchasing 40,638 shares valued at approximately $427,000.
• Garrett Motion recently announced a quarterly dividend of $0.06 per share, with a 1.7% yield and a payout ratio of 16.78%.
• Analyst ratings vary, with four firms giving the stock a Buy rating and a consensus price target of $15.17.

Counterpoint Mutual Funds LLC purchased a new stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 40,638 shares of the company's stock, valued at approximately $427,000.

A number of other hedge funds have also recently modified their holdings of the business. Deutsche Bank AG boosted its stake in Garrett Motion by 14.4% during the first quarter. Deutsche Bank AG now owns 9,383 shares of the company's stock worth $79,000 after acquiring an additional 1,181 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Garrett Motion during the first quarter valued at $42,000. California State Teachers Retirement System boosted its holdings in Garrett Motion by 9.2% in the fourth quarter. California State Teachers Retirement System now owns 75,376 shares of the company's stock worth $681,000 after acquiring an additional 6,326 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Garrett Motion by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 303,054 shares of the company's stock worth $2,537,000 after acquiring an additional 6,577 shares during the last quarter. Finally, Pacific Global Investment Management Co. increased its holdings in shares of Garrett Motion by 41.6% during the first quarter. Pacific Global Investment Management Co. now owns 23,568 shares of the company's stock valued at $197,000 after acquiring an additional 6,928 shares in the last quarter. Institutional investors own 86.27% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GTX. BNP Paribas began coverage on shares of Garrett Motion in a research note on Wednesday, July 16th. They issued an "outperform" rating on the stock. Zacks Research downgraded shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Stifel Nicolaus assumed coverage on shares of Garrett Motion in a report on Friday, September 19th. They set a "buy" rating and a $17.50 price target on the stock. BWS Financial restated a "buy" rating and issued a $14.00 price objective on shares of Garrett Motion in a report on Wednesday, June 25th. Finally, BNP Paribas Exane initiated coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating and a $14.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.17.

Garrett Motion Trading Up 3.2%

Shares of GTX stock opened at $13.99 on Wednesday. Garrett Motion Inc. has a 12-month low of $7.01 and a 12-month high of $14.01. The stock has a market capitalization of $2.82 billion, a P/E ratio of 11.02 and a beta of 0.27. The firm's 50 day moving average is $12.88 and its 200 day moving average is $10.96.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. Garrett Motion's dividend payout ratio is 16.78%.

Insider Transactions at Garrett Motion

In other Garrett Motion news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total value of $110,430,000.00. Following the transaction, the insider directly owned 4,740,569 shares of the company's stock, valued at approximately $58,166,781.63. This trade represents a 65.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $13.00, for a total transaction of $16,900,000.00. Following the sale, the insider owned 21,128,348 shares of the company's stock, valued at $274,668,524. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,520,627 shares of company stock worth $165,408,993. 0.83% of the stock is owned by corporate insiders.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.

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