Ieq Capital LLC Buys Shares of 36,427 Garrett Motion Inc. $GTX

Ieq Capital LLC bought a new position in Garrett Motion Inc. (NASDAQ:GTX) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 36,427 shares of the company’s stock, valued at approximately $1,320,000.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Garrett Motion in the 2nd quarter worth $461,794,000. Fuller & Thaler Asset Management Inc. bought a new stake in Garrett Motion in the 4th quarter worth approximately $180,383,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Garrett Motion by 170.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after acquiring an additional 3,241,952 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of Garrett Motion in the 3rd quarter worth about $40,590,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Garrett Motion during the third quarter worth approximately $36,539,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Garrett Motion Trading Up 3.0%

Shares of Garrett Motion stock opened at $27.06 on Thursday. Garrett Motion Inc. has a twelve month low of $12.26 and a twelve month high of $36.25. The firm has a market capitalization of $5.05 billion, a PE ratio of 14.87, a P/E/G ratio of 0.67 and a beta of 0.82. The firm’s 50-day moving average price is $31.08 and its 200 day moving average price is $26.22.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. On average, sell-side analysts predict that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Garrett Motion’s payout ratio is presently 17.58%.

Insider Activity at Garrett Motion

In related news, SVP Mark Albert Rodrigues sold 10,516 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12. Following the sale, the senior vice president owned 83,178 shares in the company, valued at approximately $2,813,079.96. This trade represents a 11.22% decrease in their ownership of the stock. 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, CFO Sean Deason sold 110,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the transaction, the chief financial officer directly owned 261,909 shares in the company, valued at $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. 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 196,656 shares of company stock worth $6,382,413 in the last quarter. Company insiders own 1.10% of the company’s stock.

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.