O Shaughnessy Asset Management LLC Buys 93,313 Shares of Garrett Motion Inc. $GTX

Key Points

• O Shaughnessy Asset Management increased its stake in Garrett Motion by 21.3% in the fourth quarter, buying 93,313 shares and bringing its total holding to 530,603 shares worth about $9.25 million.
• Garrett Motion reported solid quarterly results, beating earnings and revenue estimates with EPS of $0.49 versus $0.43 expected and revenue of $985 million, up 12.2% from a year earlier.
• The company also announced a quarterly dividend of $0.08 per share, while analysts remain generally positive with an average Moderate Buy rating and price target of $31.83 despite some recent insider selling and a 2.5% stock decline.

O Shaughnessy Asset Management LLC lifted its stake in Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 21.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 530,603 shares of the company's stock after acquiring an additional 93,313 shares during the period. O Shaughnessy Asset Management LLC owned 0.27% of Garrett Motion worth $9,248,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GTX. JPMorgan Chase & Co. grew its holdings in Garrett Motion by 45.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company's stock valued at $23,229,000 after buying an additional 529,949 shares during the last quarter. Comerica Bank grew its holdings in Garrett Motion by 22.0% in the 4th quarter. Comerica Bank now owns 251,371 shares of the company's stock valued at $4,381,000 after buying an additional 45,370 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in Garrett Motion by 75.0% in the 4th quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company's stock valued at $1,831,000 after buying an additional 45,000 shares during the last quarter. Yorkville Advisors Global LP acquired a new stake in Garrett Motion in the 3rd quarter valued at approximately $11,168,000. Finally, Leuthold Group LLC acquired a new stake in Garrett Motion in the 3rd quarter valued at approximately $3,331,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Trading Down 2.5%

Shares of NASDAQ:GTX opened at $31.98 on Thursday. Garrett Motion Inc. has a 1-year low of $9.57 and a 1-year high of $34.34. The firm has a market capitalization of $5.99 billion, a PE ratio of 18.70, a PEG ratio of 1.03 and a beta of 0.79. The business's 50 day moving average is $25.94 and its 200-day moving average is $20.88.

Garrett Motion (NASDAQ:GTX - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share 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 company had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. The company's revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts predict that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Freedom Capital lowered Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Zacks Research raised Garrett Motion from a "hold" rating to a "strong-buy" rating in a report on Friday, May 22nd. Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Garrett Motion from $30.00 to $33.00 and gave the stock an "overweight" rating in a report 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.83.

Insider Transactions at Garrett Motion

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the transaction, the director 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 filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the transaction, the chief financial officer owned 261,909 shares of the company's stock, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 197,178 shares of company stock valued at $6,358,597. 1.10% of the stock is owned by corporate insiders.

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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