Mitsubishi UFJ Trust & Banking Corp Decreases Stock Position in Garrett Motion Inc. $GTX

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Garrett Motion by 41.2% in Q4, selling 94,309 shares and now holding 134,443 shares (about $2.34M, ~0.07% of the company).
• Company insiders have been net sellers: CEO Olivier Rabiller sold 144,000 shares at $20.32 (cutting his stake ~13.7%), and insiders sold 337,000 shares worth $6.84M over the past 90 days, leaving insider ownership at ~1.1%.
• Garrett Motion beat quarterly expectations with EPS $0.49 vs. $0.43 and revenue $985M (+12.2% YoY), and announced a quarterly dividend of $0.08 (annualized $0.32, yield ~1.3%).

Mitsubishi UFJ Trust & Banking Corp reduced its position in Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 41.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,443 shares of the company's stock after selling 94,309 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Garrett Motion worth $2,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Garrett Motion in the third quarter worth $5,925,000. JPMorgan Chase & Co. grew its stake in shares of Garrett Motion by 45.1% in the third quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company's stock worth $23,229,000 after acquiring an additional 529,949 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Garrett Motion during the third quarter valued at $1,573,000. Federated Hermes Inc. purchased a new stake in shares of Garrett Motion during the third quarter valued at $1,646,000. Finally, Renaissance Group LLC purchased a new stake in shares of Garrett Motion during the third quarter valued at $1,156,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 905,546 shares of the company's stock, valued at approximately $18,400,694.72. This represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Steyn sold 17,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total value of $337,620.00. Following the completion of the transaction, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. This represents a 25.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 337,000 shares of company stock valued at $6,839,290. 1.10% of the stock is owned by company insiders.

Garrett Motion Price Performance

Garrett Motion stock opened at $25.00 on Tuesday. Garrett Motion Inc. has a one year low of $9.57 and a one year high of $26.38. The stock has a market capitalization of $4.68 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.07 and a beta of 0.70. The business's fifty day moving average is $19.08 and its 200 day moving average is $17.98.

Garrett Motion (NASDAQ:GTX - Get Free Report) last posted its earnings results on Thursday, April 30th. 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 company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. The business's quarterly revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts expect that Garrett Motion Inc. will post 1.75 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Garrett Motion's dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BWS Financial increased their price objective on Garrett Motion from $22.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday. Weiss Ratings assumed coverage on Garrett Motion in a research report on Wednesday, April 29th. They set a "buy (b)" rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $24.00 price objective on shares of Garrett Motion in a research report on Friday. Finally, Freedom Capital raised Garrett Motion to a "strong-buy" rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.80.

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.

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