Robeco Institutional Asset Management B.V. Buys 349,478 Shares of Garrett Motion Inc. $GTX

Key Points

• Robeco Institutional Asset Management boosted its stake in Garrett Motion by 80.3%, buying 349,478 shares to hold 784,503 shares (about 0.40% of the company) valued at roughly $13.67 million.
• Significant insider selling: insiders sold 337,000 shares last quarter (including CEO Olivier Rabiller's 144,000-share sale) totaling about $6.84 million, and insiders now own only 0.83% of the company.
• Operational and market snapshot: Garrett beat quarterly EPS estimates ($0.42 vs. $0.39) with revenue up 5.6%; shares trade near $19.27 (market cap $3.66B), yield 1.7%, and analysts hold a consensus "Moderate Buy" with an average target of $18.80.

Robeco Institutional Asset Management B.V. lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 80.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 784,503 shares of the company's stock after purchasing an additional 349,478 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.40% of Garrett Motion worth $13,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Convergence Investment Partners LLC acquired a new stake in Garrett Motion during the 3rd quarter worth approximately $1,573,000. JPMorgan Chase & Co. boosted its position in Garrett Motion by 45.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company's stock worth $23,229,000 after buying an additional 529,949 shares during the period. Federated Hermes Inc. acquired a new stake in Garrett Motion during the 3rd quarter worth approximately $1,646,000. Renaissance Group LLC acquired a new stake in Garrett Motion during the 3rd quarter worth approximately $1,156,000. Finally, Ruffer LLP acquired a new stake in Garrett Motion during the 3rd quarter worth approximately $3,684,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Stock Performance

Shares of NYSE GTX opened at $19.27 on Wednesday. The company has a market capitalization of $3.66 billion, a P/E ratio of 15.17 and a beta of 0.44. Garrett Motion Inc. has a 52-week low of $8.77 and a 52-week high of $21.42. The company's 50 day moving average price is $18.92 and its 200-day moving average price is $17.35.

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

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, March 2nd. Garrett Motion's payout ratio is presently 21.05%.

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 337,000 shares of company stock worth $6,839,290 in the last quarter. Company insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GTX shares. Stifel Nicolaus lifted their target price on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, December 16th. Zacks Research downgraded shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. BWS Financial reiterated a "buy" rating and set a $22.00 target price on shares of Garrett Motion in a research report on Thursday, April 9th. Freedom Capital upgraded shares of Garrett Motion to a "strong-buy" rating in a research report on Monday, April 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Garrett Motion in a research report on Wednesday, December 17th. They set an "overweight" rating and a $23.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Garrett Motion presently has a consensus rating of "Moderate Buy" and an average price target of $18.80.

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.

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.