LSV Asset Management Acquires 1,958,808 Shares of Garrett Motion Inc. $GTX

Key Points

• LSV Asset Management increased its Garrett Motion stake by 45.8% in the fourth quarter, buying 1,958,808 additional shares to bring its total to 6,235,408 shares valued at about $108.7 million.
• Garrett Motion reported better-than-expected Q1 results, with EPS of $0.49 versus $0.43 expected and revenue of $985 million, up 12.2% year over year.
• The company also announced a quarterly dividend of $0.08 per share, while analysts remain moderately bullish overall with a consensus price target of $31.83 and a “Moderate Buy” rating.

LSV Asset Management boosted its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 45.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,235,408 shares of the company's stock after acquiring an additional 1,958,808 shares during the quarter. LSV Asset Management owned 3.21% of Garrett Motion worth $108,683,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. boosted 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 valued at $25,000 after purchasing an additional 1,422 shares during the last quarter. Spire Wealth Management boosted 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 valued at $26,000 after purchasing an additional 1,350 shares during the last quarter. Global Retirement Partners LLC boosted 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 valued at $28,000 after purchasing an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. boosted 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 valued at $30,000 after purchasing an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion in the 1st quarter valued at $42,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Stock Up 0.2%

Garrett Motion stock opened at $33.29 on Friday. Garrett Motion Inc. has a 12-month low of $9.57 and a 12-month high of $34.34. The firm's fifty day moving average is $22.06 and its 200 day moving average is $19.43. The company has a market capitalization of $6.23 billion, a PE ratio of 19.47, a PEG ratio of 1.11 and a beta of 0.70.

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

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Garrett Motion's payout ratio is presently 18.71%.

Insider Activity at Garrett Motion

In related news, CEO Olivier Rabiller sold 144,000 shares of the business's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the transaction, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. The trade was a 13.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total transaction of $405,800.00. Following the transaction, the senior vice president owned 160,994 shares in the company, valued at $3,266,568.26. The trade was a 11.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 354,178 shares of company stock worth $7,375,587 over the last quarter. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st. Freedom Capital lowered shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on shares of Garrett Motion from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Stifel Nicolaus upped their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Finally, Weiss Ratings assumed coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They issued a "buy (b)" rating on the stock. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus 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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