Ruffer LLP Sells 84,231 Shares of Garrett Motion Inc. $GTX

Key Points

• Hedge fund Ruffer LLP cut its stake in Garrett Motion by 31.1%, selling 84,231 shares and leaving it with 186,239 shares valued at about $3.25 million; institutional investors now own roughly 86.27% of the stock.
• Company insiders have been significant sellers recently—CEO Olivier Rabiller sold 144,000 shares and Director Julia Steyn sold 17,000 shares, with total insider sales of 337,000 shares (~$6.84 million) over the past 90 days.
• Fundamentals and sentiment: Garrett beat quarterly EPS estimates ($0.42 vs. $0.39) with revenue up 5.6%, pays a quarterly dividend of $0.08 (≈1.6% yield), and has an average analyst rating of “Moderate Buy” with a $18.80 price target.

Ruffer LLP lowered its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 31.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 186,239 shares of the company's stock after selling 84,231 shares during the quarter. Ruffer LLP owned 0.10% of Garrett Motion worth $3,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GTX. Jones Financial Companies Lllp bought a new stake in Garrett Motion in the first quarter valued at approximately $42,000. Jane Street Group LLC raised its holdings in shares of Garrett Motion by 641.7% during the first quarter. Jane Street Group LLC now owns 90,919 shares of the company's stock valued at $761,000 after acquiring an additional 78,661 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Garrett Motion during the second quarter valued at approximately $121,000. Legal & General Group Plc raised its holdings in shares of Garrett Motion by 30.4% during the second quarter. Legal & General Group Plc now owns 97,486 shares of the company's stock valued at $1,024,000 after acquiring an additional 22,727 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Garrett Motion during the second quarter valued at approximately $225,000. Institutional investors own 86.27% of the company's stock.

Insider Buying and Selling

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the company's 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 sale, the director owned 50,233 shares in the company, valued at approximately $997,627.38. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Rabiller sold 144,000 shares of the firm's stock in a transaction that occurred 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 directly owned 905,546 shares of the company's stock, valued at $18,400,694.72. This represents a 13.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 337,000 shares of company stock valued at $6,839,290 over the last ninety days. Company insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GTX. BWS Financial restated 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 downgraded Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Garrett Motion has an average rating of "Moderate Buy" and an average price target of $18.80.

Garrett Motion Stock Down 0.3%

Shares of Garrett Motion stock opened at $19.88 on Wednesday. The company has a market cap of $3.74 billion, a PE ratio of 15.65 and a beta of 0.44. The business has a 50 day moving average of $18.99 and a 200 day moving average of $17.56. Garrett Motion Inc. has a 52 week low of $8.87 and a 52 week high of $21.42.

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 for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The firm's revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share for the current year.

Garrett Motion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, March 2nd. Garrett Motion's dividend payout ratio is presently 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.

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