De Lisle Partners LLP Purchases New Holdings in Garrett Motion Inc. $GTX

Key Points

• De Lisle Partners LLP acquired 424,252 Garrett Motion shares worth approximately $15.4 million, giving the stock a 1.7% portfolio weighting and representing 0.23% of the company. Institutional investors collectively own 86.27% of GTX.
• Analyst sentiment remains positive overall, with five Buy ratings and two Holds. Garrett Motion has a “Moderate Buy” consensus rating and an average price target of $38.60, above its reported $26.62 share price.
• Garrett Motion exceeded quarterly earnings expectations, reporting $0.53 EPS versus the $0.46 consensus and revenue of $976 million, up 6.9% year over year. The company also declared a quarterly dividend of $0.08 per share, while insiders sold roughly $6.4 million of stock over the past 90 days.

De Lisle Partners LLP acquired a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 424,252 shares of the company's stock, valued at approximately $15,369,000. Garrett Motion makes up about 1.7% of De Lisle Partners LLP's investment portfolio, making the stock its 11th biggest position. De Lisle Partners LLP owned 0.23% of Garrett Motion at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new position in shares of Garrett Motion during the 2nd quarter valued at approximately $117,127,000. Ieq Capital LLC bought a new position in shares of Garrett Motion during the second quarter worth about $1,320,000. JB Capital Partners LP acquired a new position in Garrett Motion in the second quarter worth about $3,296,930,000. C M Bidwell & Associates Ltd. acquired a new position in Garrett Motion in the second quarter worth about $134,000. Finally, Allworth Financial LP bought a new stake in Garrett Motion in the second quarter valued at about $64,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GTX has been the topic of several research reports. Freedom Capital cut Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Stifel Nicolaus lifted their target price on Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. boosted their price target on Garrett Motion from $33.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Wall Street Zen lowered Garrett Motion from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Zacks Research cut Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.60.

Garrett Motion Stock Up 0.8%

Shares of NASDAQ:GTX opened at $26.62 on Friday. The company has a market cap of $4.96 billion, a PE ratio of 14.63, a P/E/G ratio of 0.68 and a beta of 0.82. Garrett Motion Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The firm has a 50-day simple moving average of $31.55 and a 200 day simple moving average of $26.00.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its 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. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm had revenue of $976.00 million for the quarter. During the same period in the prior year, the business earned $0.42 EPS. The business's revenue was up 6.9% on a year-over-year basis. As a group, research analysts forecast that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Garrett Motion's dividend payout ratio (DPR) is 17.58%.

Insider Buying and Selling

In related news, SVP Mark Albert Rodrigues sold 6,140 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the transaction, the chief financial officer owned 261,909 shares of the company's stock, valued at $8,362,754.37. This represents 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. In the last 90 days, insiders have sold 196,656 shares of company stock valued at $6,382,413. Insiders own 1.10% of the company's stock.

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.

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