Knights of Columbus Asset Advisors LLC Has $2.43 Million Stake in Garrett Motion Inc. $GTX

Key Points

• Knights of Columbus Asset Advisors cut its Garrett Motion stake by 38.8% in the fourth quarter, leaving it with 139,468 shares valued at about $2.43 million.
• Garrett Motion’s most recent quarter showed better-than-expected results, with EPS of $0.49 versus $0.43 expected and revenue of $985 million, up 12.2% year over year.
• The stock has drawn mixed but generally positive sentiment: several analysts rate it a Buy, and Garrett Motion also announced a quarterly dividend of $0.08 per share.

Knights of Columbus Asset Advisors LLC trimmed its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 38.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,468 shares of the company's stock after selling 88,453 shares during the period. Knights of Columbus Asset Advisors LLC owned 0.07% of Garrett Motion worth $2,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. William Blair Investment Management LLC increased its holdings in Garrett Motion by 51.0% during the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company's stock valued at $105,090,000 after purchasing an additional 2,605,296 shares in the last quarter. LSV Asset Management increased its holdings in Garrett Motion by 45.8% during the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company's stock valued at $108,683,000 after purchasing an additional 1,958,808 shares in the last quarter. Vanguard Group Inc. increased its holdings in Garrett Motion by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company's stock valued at $77,120,000 after purchasing an additional 234,735 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Garrett Motion by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,186,089 shares of the company's stock valued at $43,390,000 after purchasing an additional 70,155 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in Garrett Motion during the 3rd quarter valued at $40,590,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the transaction, the director directly owned 124,885 shares in the company, valued at $3,898,909.70. This trade represents a 12.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Olivier Rabiller sold 144,000 shares of the firm's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Garrett Motion Stock Performance

NASDAQ GTX opened at $33.66 on Thursday. The stock has a fifty day moving average of $23.03 and a 200-day moving average of $19.79. The stock has a market capitalization of $6.30 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 1.13 and a beta of 0.70. 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 posted its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $917.23 million. Garrett Motion's quarterly revenue was up 12.2% compared to the same quarter last year. Equities research analysts forecast that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Garrett Motion's dividend payout ratio (DPR) is currently 18.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GTX shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. Zacks Research raised Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 22nd. Weiss Ratings started coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a "buy (b)" rating for the company. BWS Financial lifted their target price on Garrett Motion from $32.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, Stifel Nicolaus lifted their target price on Garrett Motion from $29.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Garrett Motion has an average rating of "Moderate Buy" and an average 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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