Garrett Motion Inc. $GTX Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding reduced its Garrett Motion stake by 32.9% in the third quarter, selling 87,190 shares and retaining 177,912 shares valued at approximately $4.63 million.
• Garrett Motion reported quarterly revenue of $976 million, up 6.9% year over year, while EPS of $0.53 exceeded analyst expectations of $0.46. The company also pays a quarterly dividend of $0.08 per share, for a 1.3% annualized yield.
• Despite the stock opening at $24.44—well below its 52-week high of $36.25—analysts maintain a “Moderate Buy” consensus, with an average price target of $38.20.

Vontobel Holding Ltd. decreased its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 32.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,912 shares of the company's stock after selling 87,190 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.10% of Garrett Motion worth $4,631,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Convergence Investment Partners LLC boosted its holdings in shares of Garrett Motion by 0.9% in the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company's stock worth $835,000 after buying an additional 423 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Garrett Motion by 39.6% in the third quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company's stock valued at $44,000 after purchasing an additional 476 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Garrett Motion by 22.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company's stock worth $63,000 after acquiring an additional 629 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Garrett Motion in the 2nd quarter worth about $27,000. Finally, Baron Wealth Management LLC boosted its position in shares of Garrett Motion by 3.3% in the first quarter. Baron Wealth Management LLC now owns 27,324 shares of the company's stock valued at $496,000 after acquiring an additional 878 shares during the period. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Price Performance

NASDAQ:GTX opened at $24.44 on Monday. Garrett Motion Inc. has a twelve month low of $12.26 and a twelve month high of $36.25. The stock has a market cap of $4.56 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 0.63 and a beta of 0.83. The firm's fifty day simple moving average is $26.73 and its 200 day simple moving average is $28.14.

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, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company had revenue of $976.00 million for the quarter. During the same quarter in the prior year, the firm earned $0.42 EPS. Garrett Motion's quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 1st. Garrett Motion's dividend payout ratio (DPR) is 17.58%.

Insider Buying and Selling at Garrett Motion

In related news, SVP Daniel Deiro sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the completion of the transaction, the senior vice president owned 133,783 shares of the company's stock, valued at $3,572,006.10. This trade represents a 18.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a "hold" rating to a "buy" rating and lifted their price objective for the company from $33.00 to $36.00 in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Garrett Motion from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garrett Motion in a research note on Friday, July 24th. JPMorgan Chase & Co. reduced their price objective on Garrett Motion from $37.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 15th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $42.00 target price on shares of Garrett Motion in a research note on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.20.

Garrett Motion Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.

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