Garrett Motion Inc. $GTX Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group increased its Garrett Motion stake by 5.6% in the fourth quarter, adding 234,735 shares and bringing its total holding to 4.42 million shares worth about $77.1 million.
• Insider selling picked up, with CEO Olivier Rabiller selling 144,000 shares and SVP Daniel Deiro selling 20,000 shares; insiders have sold 337,000 shares over the last 90 days.
• Garrett Motion reported better-than-expected quarterly results, posting EPS of $0.49 versus $0.43 expected and revenue of $985 million, while also announcing a $0.08 quarterly dividend.

Vanguard Group Inc. lifted its stake in Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,424,546 shares of the company's stock after purchasing an additional 234,735 shares during the quarter. Vanguard Group Inc. owned about 2.28% of Garrett Motion worth $77,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company's stock valued at $26,000 after purchasing an additional 1,350 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock valued at $30,000 after purchasing an additional 1,593 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion in the first quarter valued at approximately $42,000. Tower Research Capital LLC TRC acquired a new stake in shares of Garrett Motion in the second quarter valued at approximately $45,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Garrett Motion by 99.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company's stock valued at $60,000 after purchasing an additional 1,720 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

Insider Activity

In other news, CEO Olivier Rabiller sold 144,000 shares of Garrett Motion stock in a transaction on Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the sale, the chief executive officer directly owned 905,546 shares of the company's stock, valued at approximately $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the completion of the sale, the senior vice president directly owned 160,994 shares of the company's stock, valued at $3,266,568.26. The trade was a 11.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 337,000 shares of company stock valued at $6,839,290. 1.10% of the stock is currently owned by corporate insiders.

Garrett Motion Stock Up 6.0%

GTX stock opened at $31.35 on Thursday. The business has a fifty day moving average of $20.27 and a two-hundred day moving average of $18.74. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.70. Garrett Motion Inc. has a 52-week low of $9.57 and a 52-week high of $31.58.

Garrett Motion (NASDAQ:GTX - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $985.00 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Garrett Motion Inc. will post 1.81 EPS 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 paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Garrett Motion's payout ratio is presently 18.71%.

Analyst Upgrades and Downgrades

GTX has been the subject of several recent research reports. Weiss Ratings initiated coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a "buy (b)" rating for the company. Freedom Capital cut Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. BWS Financial raised their target price on Garrett Motion from $22.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.80.

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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