Massachusetts Financial Services Co. MA Buys Shares of 144,453 Garrett Motion Inc. $GTX

Key Points

• Massachusetts Financial Services Co. MA bought a new stake of 144,453 shares in Garrett Motion, valued at approximately $2,518,000, representing about 0.07% of the company.
• Several large institutions (LSV, Merewether, BlueCrest, William Blair, Arrowstreet) added or increased positions, leaving institutional ownership at 86.27%.
• Insiders sold 337,000 shares worth roughly $6.84 million over the past three months, reducing insider ownership to about 0.83%.

Massachusetts Financial Services Co. MA bought a new stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 144,453 shares of the company's stock, valued at approximately $2,518,000. Massachusetts Financial Services Co. MA owned about 0.07% of Garrett Motion as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LSV Asset Management bought a new stake in shares of Garrett Motion in the 3rd quarter valued at $58,247,000. Merewether Investment Management LP bought a new stake in shares of Garrett Motion in the 3rd quarter valued at $40,590,000. BlueCrest Capital Management Ltd bought a new stake in shares of Garrett Motion in the 3rd quarter valued at $36,539,000. William Blair Investment Management LLC increased its position in shares of Garrett Motion by 51.0% in 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 buying an additional 2,605,296 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Garrett Motion by 5,889.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,897,487 shares of the company's stock valued at $25,844,000 after buying an additional 1,865,809 shares in the last quarter. Institutional investors own 86.27% of the company's stock.

Insiders Place Their Bets

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction of $337,620.00. Following the completion of the sale, the director directly owned 50,233 shares in the company, valued at $997,627.38. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Daniel Deiro sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total transaction of $405,800.00. Following the sale, the senior vice president owned 160,994 shares of the company's stock, valued at $3,266,568.26. This trade represents a 11.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 337,000 shares of company stock worth $6,839,290 over the last three months. Insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GTX. BWS Financial reiterated a "buy" rating and set a $22.00 target price on shares of Garrett Motion in a report on Thursday, April 9th. Freedom Capital upgraded Garrett Motion to a "strong-buy" rating in a report on Monday, April 6th. Finally, Zacks Research cut Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Garrett Motion presently has a consensus rating of "Moderate Buy" and an average target price of $18.80.

Garrett Motion Stock Up 3.3%

Shares of GTX stock opened at $19.91 on Friday. The firm has a 50 day moving average price of $18.96 and a two-hundred day moving average price of $17.42. The company has a market capitalization of $3.75 billion, a PE ratio of 15.68 and a beta of 0.44. Garrett Motion Inc. has a 12-month low of $8.77 and a 12-month high of $21.42.

Garrett Motion (NYSE:GTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The company's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts expect that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.08 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.32 annualized dividend and a yield of 1.6%. Garrett Motion's dividend payout ratio (DPR) is 21.05%.

Garrett Motion 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.