Dimensional Fund Advisors LP Purchases 237,508 Shares of Garrett Motion Inc. $GTX

Key Points

• Dimensional Fund Advisors increased its Garrett Motion stake by 7.3%, purchasing 237,508 shares and bringing its holdings to 3.50 million shares, or approximately 1.87% of the company. Institutional investors collectively own 86.27% of GTX.
• Garrett Motion reported quarterly earnings of $0.53 per share, exceeding estimates of $0.46, while revenue rose 6.9% year over year to $976 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $37.80.
• The company declared a quarterly dividend of $0.08 per share, equivalent to an annualized dividend of $0.32 and a 1.0% yield. Meanwhile, insiders sold 213,834 shares worth approximately $6.9 million over the past 90 days.

Dimensional Fund Advisors LP increased its position in Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,504,855 shares of the company's stock after acquiring an additional 237,508 shares during the quarter. Dimensional Fund Advisors LP owned about 1.87% of Garrett Motion worth $63,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GTX. Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the first quarter worth approximately $42,000. Jane Street Group LLC increased its position in Garrett Motion by 641.7% during the first quarter. Jane Street Group LLC now owns 90,919 shares of the company's stock worth $761,000 after acquiring an additional 78,661 shares during the period. Cetera Investment Advisers acquired a new position in Garrett Motion during the 2nd quarter valued at $121,000. Legal & General Group Plc boosted its holdings in Garrett Motion by 30.4% in the 2nd quarter. Legal & General Group Plc now owns 97,486 shares of the company's stock valued at $1,024,000 after purchasing an additional 22,727 shares during the period. Finally, Prudential Financial Inc. bought a new stake in Garrett Motion in the 2nd quarter valued at $225,000. Institutional investors and hedge funds own 86.27% of the company's stock.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $31.15 on Friday. The firm has a 50 day simple moving average of $32.66 and a 200 day simple moving average of $24.88. 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 market cap of $5.81 billion, a P/E ratio of 17.12, a P/E/G ratio of 0.92 and a beta of 0.78.

Garrett Motion (NASDAQ:GTX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.07. The business had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. On average, sell-side analysts expect that Garrett Motion Inc. will post 1.86 EPS for the current year.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Garrett Motion's payout ratio is 17.58%.

Analyst Upgrades and Downgrades

GTX has been the topic of several research reports. Weiss Ratings restated a "buy (b)" rating on shares of Garrett Motion in a report on Friday, July 24th. Wall Street Zen lowered Garrett Motion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research report on Thursday, May 21st. Zacks Research lowered Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a "hold" rating to a "buy" rating and boosted their price objective for the company from $33.00 to $36.00 in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.80.

Insiders Place Their Bets

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the transaction, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. This represents a 12.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares of the company's stock, valued at $4,882,548. The trade was a 32.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 213,834 shares of company stock valued at $6,918,710 over the last 90 days. 1.10% of the stock is owned by company insiders.

About Garrett Motion

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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