Garrett Motion Inc. $GTX Stock Holdings Increased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management increased its Garrett Motion stake by 9.8% in the fourth quarter, adding 98,771 shares and bringing its total holding to 1,110,335 shares worth about $19.35 million.
• Garrett Motion reported better-than-expected quarterly results, with EPS of $0.49 versus $0.43 estimated and revenue of $985 million, up 12.2% year over year.
• The company also declared a quarterly dividend of $0.08 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $31.83.

Jupiter Asset Management Ltd. raised its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,110,335 shares of the company's stock after acquiring an additional 98,771 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.57% of Garrett Motion worth $19,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GTX. Cullen Frost Bankers Inc. raised its stake in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after buying an additional 1,422 shares in the last quarter. Spire Wealth Management raised its stake in shares of Garrett Motion by 971.2% in 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 raised its stake 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 worth $28,000 after buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock worth $30,000 after buying an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion in the 1st quarter worth $42,000. Institutional investors own 86.27% of the company's stock.

Insider Buying and Selling at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the transaction, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. The trade was a 12.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company's stock.

Garrett Motion Stock Down 1.6%

Shares of NASDAQ GTX opened at $32.76 on Friday. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.11 and a beta of 0.70. The stock's fifty day simple moving average is $23.65 and its 200 day simple moving average is $19.99. Garrett Motion Inc. has a 52-week low of $9.57 and a 52-week high of $34.34.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. The company's quarterly revenue was up 12.2% compared to the same quarter last year. As a group, analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.08 per share. The ex-dividend date 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 currently 18.71%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GTX. Stifel Nicolaus boosted their price objective on Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their target price on Garrett Motion from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a "buy (b)" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.83.

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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