SG Americas Securities LLC Purchases 302,168 Shares of Garrett Motion Inc. $GTX

Key Points

• SG Americas Securities LLC increased its Garrett Motion stake by 179.8% in the first quarter, buying 302,168 additional shares and bringing its total holdings to 470,257 shares worth about $8.5 million.
• Insider selling has been active, with SVP Mark Albert Rodrigues and Director Daniel A. Ninivaggi both selling shares recently; insiders have sold 213,834 shares worth about $6.9 million over the last 90 days.
• Garrett Motion posted solid quarterly results, reporting EPS of $0.49 versus expectations of $0.43 and revenue of $985 million, while analysts currently hold an average Moderate Buy rating with a $31.83 target price.

SG Americas Securities LLC lifted its position in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 179.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 470,257 shares of the company's stock after purchasing an additional 302,168 shares during the quarter. SG Americas Securities LLC owned approximately 0.25% of Garrett Motion worth $8,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GTX. Fuller & Thaler Asset Management Inc. acquired a new stake in Garrett Motion during the fourth quarter worth $180,383,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Garrett Motion by 170.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company's stock valued at $89,580,000 after buying an additional 3,241,952 shares in the last quarter. Merewether Investment Management LP bought a new position in shares of Garrett Motion during the 3rd quarter worth about $40,590,000. BlueCrest Capital Management Ltd bought a new position in shares of Garrett Motion during the 3rd quarter worth about $36,539,000. Finally, William Blair Investment Management LLC boosted its position in shares of Garrett Motion by 51.0% during 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 acquiring an additional 2,605,296 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 6,140 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total transaction of $204,462.00. Following the sale, the senior vice president owned 77,038 shares of the company's stock, valued at $2,565,365.40. This represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the sale, the director owned 124,885 shares of the company's stock, valued at $3,898,909.70. The trade was a 12.09% 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. Insiders have sold 213,834 shares of company stock valued at $6,918,710 in the last 90 days. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

GTX has been the topic of a number of analyst reports. Zacks Research raised shares of Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 22nd. Weiss Ratings assumed coverage on Garrett Motion in a report on Wednesday, April 29th. They set a "buy (b)" rating on the stock. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, BWS Financial raised their target price on Garrett Motion from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.83.

Garrett Motion Stock Up 0.3%

Shares of Garrett Motion stock opened at $35.11 on Friday. Garrett Motion Inc. has a 12-month low of $10.23 and a 12-month high of $35.41. The stock has a market capitalization of $6.57 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79. The company has a 50-day simple moving average of $29.63 and a 200 day simple moving average of $22.33.

Garrett Motion (NASDAQ:GTX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion's payout ratio is presently 18.71%.

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.