Thompson Siegel & Walmsley LLC Lowers Stake in Garrett Motion Inc. $GTX

Key Points

• Thompson Siegel & Walmsley LLC cut its Garrett Motion stake by 10.9% in the fourth quarter, selling 68,208 shares and ending with 555,235 shares worth about $9.68 million.
• Garrett Motion reported stronger-than-expected Q1 results, posting earnings of $0.49 per share versus $0.43 expected and revenue of $985 million versus $917.23 million forecast, with revenue up 12.2% year over year.
• The company also announced a quarterly dividend of $0.08 per share, while analysts remain broadly positive overall with a consensus rating of “Moderate Buy” and an average price target of $31.83.

Thompson Siegel & Walmsley LLC lowered its stake in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 10.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 555,235 shares of the company's stock after selling 68,208 shares during the period. Thompson Siegel & Walmsley LLC owned approximately 0.29% of Garrett Motion worth $9,678,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its position in shares of Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock worth $28,000 after purchasing an additional 970 shares during the period. D Orazio & Associates Inc. boosted its position in shares of Garrett Motion by 7.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company's stock worth $206,000 after purchasing an additional 1,015 shares during the period. Spire Wealth Management boosted its position in shares of Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company's stock worth $26,000 after purchasing an additional 1,350 shares during the period. Cullen Frost Bankers Inc. lifted its position in shares of Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after purchasing an additional 1,422 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its position in shares of Garrett Motion by 6.3% during the fourth quarter. Baron Wealth Management LLC now owns 26,446 shares of the company's stock worth $461,000 after purchasing an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company's stock.

Garrett Motion Stock Down 4.7%

Shares of NASDAQ:GTX opened at $31.21 on Tuesday. The firm's 50 day moving average price is $23.93 and its 200 day moving average price is $20.11. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. Garrett Motion Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $34.34.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to analysts' expectations of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The business'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 EPS for the current year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors 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 annualized dividend and a yield of 1.0%. Garrett Motion's dividend payout ratio (DPR) is 18.71%.

Insider Buying and Selling

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the sale, the senior vice president owned 147,956 shares of the company's stock, valued at approximately $4,882,548. This trade represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 sale, the director directly owned 124,885 shares in the company, valued at approximately $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. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GTX shares. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, May 21st. Weiss Ratings started coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They set a "buy (b)" rating on the stock. Freedom Capital cut shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. BWS Financial increased their price target on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $24.00 price target on shares of Garrett Motion in a research report on Friday, May 1st. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.83.

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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