Garrett Motion Inc. $GTX Stock Sold by New South Capital Management Inc.

New South Capital Management Inc. reduced its stake in Garrett Motion Inc. (NASDAQ:GTX) by 42.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,671,344 shares of the company’s stock after selling 1,218,864 shares during the quarter. Garrett Motion comprises 3.0% of New South Capital Management Inc.’s holdings, making the stock its 11th largest position. New South Capital Management Inc.’s holdings in Garrett Motion were worth $43,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Persistent Asset Partners Ltd bought a new stake in shares of Garrett Motion during the second quarter worth approximately $27,000. Root Financial Partners LLC acquired a new position in shares of Garrett Motion in the third quarter valued at approximately $32,000. Fulcrum Asset Management LLP acquired a new position in shares of Garrett Motion in the third quarter valued at approximately $34,000. Signature Equity Partners LLC acquired a new position in shares of Garrett Motion in the third quarter valued at approximately $35,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Garrett Motion by 39.6% during the third quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after purchasing an additional 476 shares during the period. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GTX has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, September 15th. Freedom Broker upgraded Garrett Motion from a “hold” rating to a “buy” rating and reduced their price target for the company from $34.00 to $31.00 in a research note on Friday, October 30th. Wall Street Zen lowered Garrett Motion from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. BWS Financial reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Garrett Motion in a report on Thursday, October 8th. Finally, Weiss Ratings cut Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Insider Buying and Selling at Garrett Motion

In other news, SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total value of $537,800.00. Following the completion of the sale, the senior vice president directly owned 113,783 shares in the company, valued at approximately $3,059,624.87. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Garrett Motion Stock Performance

NASDAQ:GTX opened at $21.00 on Thursday. Garrett Motion Inc. has a 52 week low of $15.54 and a 52 week high of $36.25. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.58 and a beta of 0.95. The firm’s 50-day simple moving average is $24.53 and its 200 day simple moving average is $25.41.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $930.00 million during the quarter. Garrett Motion had a net margin of 9.97% and a negative return on equity of 52.43%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts anticipate that Garrett Motion Inc. will post 1.88 EPS for the current year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. Garrett Motion’s dividend payout ratio (DPR) is currently 16.41%.

Garrett Motion Company Profile

Garrett Motion designs and manufactures automotive technologies focused on improving vehicle performance, fuel efficiency and emissions. Its products include turbochargers for passenger vehicles and commercial vehicles, along with electric boosting technologies that support conventional, hybrid and electric powertrains. The company also develops technologies for zero-emission applications, including compressors for hydrogen fuel-cell systems. Its products and engineering services are used by automakers and commercial-vehicle manufacturers around the world.