Garrett Motion Inc. $GTX Shares Purchased by Eubel Brady & Suttman Asset Management Inc.

Eubel Brady & Suttman Asset Management Inc. raised its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 37.1% in the second quarter, Holdings Channel.com reports. The firm owned 2,925,770 shares of the company’s stock after buying an additional 791,177 shares during the period. Garrett Motion comprises 3.9% of Eubel Brady & Suttman Asset Management Inc.’s portfolio, making the stock its 5th largest holding. Eubel Brady & Suttman Asset Management Inc.’s holdings in Garrett Motion were worth $30,750,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Garrett Motion by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company’s stock worth $19,285,000 after acquiring an additional 62,844 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Garrett Motion by 4.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,290,509 shares of the company’s stock worth $10,802,000 after acquiring an additional 54,978 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Garrett Motion by 296.5% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 253,150 shares of the company’s stock worth $2,119,000 after acquiring an additional 189,300 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of Garrett Motion by 113.6% in the 1st quarter. Maverick Capital Ltd. now owns 65,716 shares of the company’s stock worth $550,000 after acquiring an additional 34,944 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Garrett Motion by 138.0% in the 1st quarter. Invesco Ltd. now owns 162,991 shares of the company’s stock worth $1,364,000 after acquiring an additional 94,501 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Trading Up 2.2%

Shares of NYSE GTX opened at $17.43 on Wednesday. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 13.72 and a beta of 0.37. Garrett Motion Inc. has a 12-month low of $7.01 and a 12-month high of $17.53. The stock’s 50 day simple moving average is $13.45 and its 200 day simple moving average is $11.87.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Garrett Motion has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.08 per share. This is a boost from Garrett Motion’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. Garrett Motion’s payout ratio is presently 20.38%.

Insiders Place Their Bets

In other Garrett Motion news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the completion of the transaction, the insider owned 4,740,569 shares in the company, valued at approximately $58,166,781.63. The trade was a 65.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $13.00, for a total value of $16,900,000.00. Following the transaction, the insider owned 21,128,348 shares of the company’s stock, valued at $274,668,524. This trade represents a 5.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,509,850 shares of company stock valued at $143,362,919 in the last quarter. 0.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on GTX. Deutsche Bank Aktiengesellschaft began coverage on Garrett Motion in a research report on Monday, October 20th. They issued a “hold” rating and a $14.00 target price for the company. Stifel Nicolaus set a $20.00 target price on Garrett Motion in a research report on Friday. BNP Paribas Exane began coverage on Garrett Motion in a research report on Wednesday, July 16th. They issued an “outperform” rating and a $14.00 target price for the company. BNP Paribas began coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an “outperform” rating on the stock. Finally, BWS Financial reissued a “buy” rating and issued a $18.00 price target on shares of Garrett Motion in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Garrett Motion has a consensus rating of “Buy” and a consensus price target of $16.50.

About Garrett Motion

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.