JB Capital Partners LP Invests $3.30 Billion in Garrett Motion Inc. $GTX

Key Points

• JB Capital Partners LP acquired 91,000 Garrett Motion shares worth approximately $3.30 billion, making GTX about 0.5% of its portfolio and its 28th-largest position. Institutional investors and hedge funds collectively own 86.27% of the stock.
• Garrett Motion reported quarterly EPS of $0.53, exceeding the $0.46 consensus estimate, while revenue rose 6.9% year over year to $976 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $38.60.
• The company declared a quarterly dividend of $0.08 per share, equivalent to a $0.32 annualized payout and a 1.2% yield, while insiders sold 196,656 shares worth about $6.38 million over the past 90 days.

JB Capital Partners LP bought a new position in Garrett Motion Inc. (NASDAQ:GTX - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 91,000 shares of the company's stock, valued at approximately $3,296,930,000. Garrett Motion comprises approximately 0.5% of JB Capital Partners LP's portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its position in Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after acquiring an additional 1,422 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Garrett Motion in the 2nd quarter valued at about $27,000. Global Retirement Partners LLC lifted its position in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock valued at $28,000 after buying an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Garrett Motion by 1,422.3% during the fourth 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 during the period. Finally, Jones Financial Companies Lllp purchased a new position in Garrett Motion during the first quarter worth about $42,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GTX shares. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a report on Thursday, May 21st. JPMorgan Chase & Co. upped their price target on Garrett Motion from $33.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Zacks Research lowered Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Freedom Capital downgraded Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, BWS Financial reissued a "buy" rating and set a $42.00 target price on shares of Garrett Motion in a research note on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion has an average rating of "Moderate Buy" and a consensus price target of $38.60.

Garrett Motion Stock Performance

Shares of GTX stock opened at $26.62 on Friday. Garrett Motion Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The company has a 50 day moving average price of $31.55 and a 200 day moving average price of $26.00. The stock has a market capitalization of $4.96 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts forecast that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion's dividend payout ratio (DPR) is 17.58%.

Insider Activity at Garrett Motion

In related news, SVP Thierry Mabru sold 70,000 shares of Garrett Motion 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 completion of the transaction, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. The trade was a 32.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of Garrett Motion stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total transaction of $204,462.00. Following the completion of the transaction, the senior vice president owned 77,038 shares of the company's stock, valued at $2,565,365.40. This represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 196,656 shares of company stock valued at $6,382,413 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

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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