Garrett Motion Inc. $GTX Stock Holdings Increased by Copeland Capital Management LLC

Key Points

• Copeland Capital Management increased its Garrett Motion stake by 302.7% in the third quarter, acquiring 1.67 million additional shares for a total of 2.23 million shares valued at about $58 million. Institutional investors collectively own 86.27% of the company.
• Analyst sentiment is broadly positive: Garrett Motion has a consensus “Buy” rating and an average price target of $38.20, compared with a recent share price of $25.78.
• Garrett Motion reported quarterly EPS of $0.53, exceeding estimates of $0.46, while revenue rose 6.9% year over year to $976 million. The company also maintains a quarterly dividend of $0.08 per share, yielding approximately 1.2% annually.

Copeland Capital Management LLC grew its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 302.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,227,662 shares of the company's stock after buying an additional 1,674,435 shares during the period. Garrett Motion accounts for about 1.3% of Copeland Capital Management LLC's holdings, making the stock its 26th largest holding. Copeland Capital Management LLC owned about 1.19% of Garrett Motion worth $57,986,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new position in Garrett Motion in the second quarter valued at approximately $461,794,000. William Blair Investment Management LLC purchased a new position in Garrett Motion in the second quarter valued at approximately $117,127,000. Arrowstreet Capital Limited Partnership raised its holdings in Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company's stock worth $89,580,000 after purchasing an additional 3,241,952 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Garrett Motion by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,504,855 shares of the company's stock worth $63,677,000 after purchasing an additional 237,508 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Garrett Motion during the second quarter worth approximately $45,490,000. Hedge funds and other institutional investors own 86.27% of the company's stock.

Insider Activity

In related news, SVP Daniel Deiro sold 30,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total value of $801,000.00. Following the transaction, the senior vice president owned 133,783 shares in the company, valued at $3,572,006.10. The trade was a 18.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BWS Financial reaffirmed a "buy" rating and issued a $42.00 target price on shares of Garrett Motion in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a "hold" rating to a "buy" rating and upped their price objective for the company from $33.00 to $36.00 in a research note on Thursday, July 30th. Zacks Research upgraded shares of Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garrett Motion in a report on Friday, July 24th. Finally, Wall Street Zen cut Garrett Motion from a "buy" rating to a "hold" rating in a research report on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $38.20.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $25.78 on Wednesday. The firm's fifty day simple moving average is $27.08 and its 200-day simple moving average is $28.00. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.66 and a beta of 0.83. Garrett Motion Inc. has a 12 month low of $12.26 and a 12 month high of $36.25.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $976.00 million during the quarter. During the same quarter in the prior year, the company earned $0.42 EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Analysts anticipate that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Garrett Motion's dividend payout ratio (DPR) is currently 17.58%.

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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