Garrett Motion Inc. $GTX Shares Sold by Oaktree Capital Management LP

Oaktree Capital Management LP trimmed its stake in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,594,816 shares of the company's stock after selling 2,500,000 shares during the period. Garrett Motion comprises about 3.3% of Oaktree Capital Management LP's portfolio, making the stock its 4th largest position. Oaktree Capital Management LP owned about 7.80% of Garrett Motion worth $265,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GTX. Cullen Frost Bankers Inc. raised its position in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock valued at $25,000 after buying an additional 1,422 shares during the last quarter. Spire Wealth Management lifted its position in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company's stock worth $26,000 after buying an additional 1,350 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock valued at $28,000 after acquiring an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake 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 buying an additional 1,593 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Garrett Motion by 361.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company's stock worth $49,000 after purchasing an additional 2,210 shares during the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GTX has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Garrett Motion in a research note on Friday, July 24th. Freedom Capital downgraded shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. BWS Financial reaffirmed a "buy" rating and issued a $42.00 price objective on shares of Garrett Motion in a research note on Monday, July 6th. Finally, Wall Street Zen downgraded Garrett Motion from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.40.

Garrett Motion Price Performance

Shares of GTX stock opened at $28.78 on Thursday. Garrett Motion Inc. has a 1 year low of $12.26 and a 1 year high of $36.25. The company's fifty day simple moving average is $32.74 and its two-hundred day simple moving average is $24.75. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.89 and a beta of 0.78.

Garrett Motion (NASDAQ:GTX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company had revenue of $976.00 million for the quarter. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research 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 Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 1st. Garrett Motion's dividend payout ratio (DPR) is 18.71%.

Insider Activity

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 147,956 shares in the company, valued at $4,882,548. This represents a 32.12% 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 company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the transaction, the chief financial officer directly owned 261,909 shares in the company, valued at approximately $8,362,754.37. The trade was 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. Over the last quarter, insiders sold 213,834 shares of company stock worth $6,918,710. Insiders own 1.10% of the company's stock.

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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