Garrett Motion Inc. $GTX Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL cut its stake in Garrett Motion by 87.9% in Q3, selling 373,487 shares and leaving 51,568 shares worth about $702,000.
• Company insiders sold 337,000 shares last quarter — including CEO Olivier Rabiller's 144,000-share sale (~$2.93M) and Director Julia Steyn's 17,000-share sale — leaving insiders with 0.83% ownership.
• Analysts hold a Moderate Buy consensus with a $18.80 price target, and Garrett recently beat quarterly EPS estimates ($0.42 vs. $0.39) with revenue up 5.6% year-over-year.

Tudor Investment Corp ET AL lowered its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 87.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,568 shares of the company's stock after selling 373,487 shares during the quarter. Tudor Investment Corp ET AL's holdings in Garrett Motion were worth $702,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GTX. Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the first quarter valued at approximately $42,000. Tower Research Capital LLC TRC acquired a new position in shares of Garrett Motion during the second quarter valued at approximately $45,000. Blue Trust Inc. increased its stake in shares of Garrett Motion by 254.7% during the third quarter. Blue Trust Inc. now owns 6,190 shares of the company's stock valued at $84,000 after acquiring an additional 4,445 shares during the period. Cetera Investment Advisers acquired a new position in shares of Garrett Motion during the second quarter valued at approximately $121,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Garrett Motion during the second quarter valued at approximately $134,000. Institutional investors and hedge funds own 86.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BWS Financial restated a "buy" rating and set a $22.00 target price on shares of Garrett Motion in a report on Thursday, April 9th. Stifel Nicolaus raised their target price on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, December 16th. Zacks Research cut shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Freedom Capital upgraded shares of Garrett Motion to a "strong-buy" rating in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They set an "overweight" rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

Insider Buying and Selling at Garrett Motion

In other news, Director Julia Steyn sold 17,000 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction of $337,620.00. Following the transaction, the director owned 50,233 shares in the company, valued at approximately $997,627.38. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Rabiller sold 144,000 shares of the firm's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the transaction, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. This represents a 13.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 337,000 shares of company stock valued at $6,839,290 in the last quarter. Company insiders own 0.83% of the company's stock.

Garrett Motion Stock Down 0.4%

Shares of NYSE:GTX opened at $19.27 on Wednesday. The firm has a fifty day moving average of $18.92 and a two-hundred day moving average of $17.35. The firm has a market capitalization of $3.66 billion, a P/E ratio of 15.17 and a beta of 0.44. Garrett Motion Inc. has a 12-month low of $8.77 and a 12-month high of $21.42.

Garrett Motion (NYSE:GTX - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts expect that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. Garrett Motion's dividend payout ratio (DPR) is 21.05%.

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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