UBS Group AG Has $21.34 Million Position in Garrett Motion Inc. $GTX

Key Points

• UBS Group AG cut its Garrett Motion stake by 53.9% in the fourth quarter, selling more than 1.4 million shares and ending with 1.22 million shares worth about $21.34 million.
• Garrett Motion’s recent results topped expectations, with Q1 EPS of $0.49 versus $0.43 expected and revenue of $985 million, up 12.2% year over year. The company also announced a quarterly dividend of $0.08 per share.
• Wall Street remains mostly positive, with analysts giving Garrett Motion a Moderate Buy consensus and an average price target of $22.80, though some insiders and one analyst have recently trimmed their outlook or holdings.

UBS Group AG cut its stake in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) by 53.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,224,196 shares of the company's stock after selling 1,429,529 shares during the quarter. UBS Group AG owned approximately 0.63% of Garrett Motion worth $21,338,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Spire Wealth Management raised its holdings in shares of Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company's stock valued at $26,000 after purchasing an additional 1,350 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock valued at $30,000 after buying an additional 1,593 shares during the period. Jones Financial Companies Lllp bought a new stake in Garrett Motion in the 1st quarter valued at about $42,000. Tower Research Capital LLC TRC bought a new position in Garrett Motion in the second quarter worth approximately $45,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Garrett Motion by 99.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company's stock worth $60,000 after acquiring an additional 1,720 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BWS Financial upped their price objective on Garrett Motion from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings began coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They issued a "buy (b)" rating on the stock. Freedom Capital lowered shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $24.00 price objective on shares of Garrett Motion in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Garrett Motion presently has an average rating of "Moderate Buy" and a consensus price target of $22.80.

Insider Transactions at Garrett Motion

In related news, Director Julia Steyn sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total value of $337,620.00. Following the completion of the transaction, the director directly owned 50,233 shares of the company's stock, valued at approximately $997,627.38. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 160,994 shares of the company's stock, valued at $3,266,568.26. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 337,000 shares of company stock worth $6,839,290 over the last quarter. Corporate insiders own 1.10% of the company's stock.

Garrett Motion Price Performance

NASDAQ:GTX opened at $29.14 on Tuesday. The company has a market capitalization of $5.45 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.96 and a beta of 0.70. The business has a fifty day simple moving average of $19.86 and a two-hundred day simple moving average of $18.50. Garrett Motion Inc. has a 1 year low of $9.57 and a 1 year high of $29.43.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued 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. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million for the quarter, compared to analysts' expectations of $917.23 million. The business's quarterly revenue was up 12.2% compared to the same quarter last year. As a group, analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, June 1st. Garrett Motion's dividend payout ratio (DPR) is currently 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.

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