Mitsubishi UFJ Asset Management Co. Ltd. Trims Stock Position in Garrett Motion Inc. $GTX

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in Garrett Motion Inc. (NYSE:GTX) by 43.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,799 shares of the company’s stock after selling 30,894 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Garrett Motion were worth $418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Garrett Motion by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company’s stock valued at $19,285,000 after acquiring an additional 62,844 shares during the period. Victory Capital Management Inc. raised its holdings in 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 purchasing an additional 54,978 shares during the period. OMERS ADMINISTRATION Corp lifted its position in Garrett Motion by 296.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 253,150 shares of the company’s stock valued at $2,119,000 after purchasing an additional 189,300 shares in the last quarter. Maverick Capital Ltd. grew its holdings in Garrett Motion by 113.6% during the first quarter. Maverick Capital Ltd. now owns 65,716 shares of the company’s stock valued at $550,000 after purchasing an additional 34,944 shares during the period. Finally, Invesco Ltd. grew its holdings in Garrett Motion by 138.0% during the first quarter. Invesco Ltd. now owns 162,991 shares of the company’s stock valued at $1,364,000 after purchasing an additional 94,501 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on GTX shares. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. BWS Financial restated a “buy” rating and set a $18.00 target price on shares of Garrett Motion in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Garrett Motion in a report on Monday, October 20th. They set a “hold” rating and a $14.00 price target on the stock. Finally, Stifel Nicolaus set a $20.00 price objective on shares of Garrett Motion in a research note 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $16.50.

Garrett Motion Price Performance

GTX stock opened at $16.84 on Friday. Garrett Motion Inc. has a 1-year low of $7.01 and a 1-year high of $17.91. The business has a 50 day simple moving average of $14.51 and a two-hundred day simple moving average of $12.59. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 13.26 and a beta of 0.41.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. Garrett Motion has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from Garrett Motion’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. Garrett Motion’s dividend payout ratio is currently 20.38%.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of Garrett Motion stock in a transaction that occurred 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 sale, the insider owned 21,128,348 shares of the company’s stock, valued at $274,668,524. The trade was a 5.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 2,418,403 shares of company stock worth $31,739,564. Company insiders own 0.83% of the company’s stock.

Garrett Motion Company Profile

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.