Deutsche Bank AG Takes $6.96 Million Position in Garrett Motion Inc. $GTX

Key Points

• Deutsche Bank acquired 192,132 Garrett Motion shares worth approximately $6.96 million during the second quarter, giving it a 0.10% stake. Institutional investors and hedge funds collectively own 86.27% of the company.
• Analyst sentiment remains favorable, with five Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $38.60. Deutsche Bank also upgraded the stock to Buy and raised its target to $36.
• Garrett Motion reported quarterly EPS of $0.53, exceeding the $0.46 consensus estimate, while revenue rose 6.9% year over year to $976 million. The company declared a quarterly dividend of $0.08, representing a 1.2% annualized yield.

Deutsche Bank AG purchased a new position in Garrett Motion Inc. (NASDAQ:GTX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 192,132 shares of the company's stock, valued at approximately $6,961,000. Deutsche Bank AG owned about 0.10% of Garrett Motion as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new stake in Garrett Motion in the fourth quarter valued at about $180,383,000. LSV Asset Management boosted its holdings in Garrett Motion by 45.8% during the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company's stock worth $108,683,000 after buying an additional 1,958,808 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company's stock worth $89,580,000 after buying an additional 3,241,952 shares during the last quarter. Marshall Wace LLP grew its position in shares of Garrett Motion by 85.9% during the 4th quarter. Marshall Wace LLP now owns 4,473,196 shares of the company's stock worth $77,968,000 after buying an additional 2,067,264 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Garrett Motion by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company's stock worth $77,120,000 after buying an additional 234,735 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GTX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a "hold" rating to a "buy" rating and increased their price target for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. Wall Street Zen cut shares of Garrett Motion from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garrett Motion in a research note on Friday, July 24th. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research note on Thursday, May 21st. Finally, Zacks Research lowered shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Garrett Motion currently has an average rating of "Moderate Buy" and a consensus target price of $38.60.

Insider Buying and Selling

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the firm'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 sale, the senior vice president owned 77,038 shares in the company, valued at $2,565,365.40. This trade represents a 7.38% 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. In the last three months, insiders sold 196,656 shares of company stock valued at $6,382,413. 1.10% of the stock is owned by corporate insiders.

Garrett Motion Trading Down 2.9%

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 price-to-earnings ratio of 14.20, a PEG ratio of 0.68 and a beta of 0.82. The stock has a 50-day moving average price of $31.38 and a two-hundred day moving average price of $26.10.

Garrett Motion (NASDAQ:GTX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The firm's revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Sell-side analysts forecast that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Garrett Motion's payout ratio is currently 17.58%.

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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