Caitong International Asset Management Co. Ltd Has $47,000 Stock Holdings in Garrett Motion Inc. $GTX

Caitong International Asset Management Co. Ltd increased its holdings in Garrett Motion Inc. (NYSE:GTX) by 4,655.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,518 shares of the company’s stock after purchasing an additional 4,423 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Garrett Motion were worth $47,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion during the first quarter worth approximately $42,000. Vestcor Inc acquired a new stake in shares of Garrett Motion during the first quarter worth approximately $61,000. Deutsche Bank AG increased its holdings in shares of Garrett Motion by 14.4% during the first quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock worth $79,000 after buying an additional 1,181 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Garrett Motion during the first quarter worth approximately $94,000. Finally, Kathmere Capital Management LLC acquired a new stake in shares of Garrett Motion during the second quarter worth approximately $133,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Buying and Selling

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $13.00, for a total value of $16,900,000.00. Following the transaction, the insider directly owned 21,128,348 shares of the company’s stock, valued at approximately $274,668,524. This trade represents a 5.80% 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 the SEC website. Also, insider Centerbridge Credit Partners M sold 9,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 directly owned 4,740,569 shares in the company, valued at approximately $58,166,781.63. The trade was a 65.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,685,545 shares of company stock worth $145,663,491. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GTX. BWS Financial reaffirmed a “buy” rating and set a $18.00 price objective on shares of Garrett Motion in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of Garrett Motion in a report on Monday, October 20th. They set a “hold” rating and a $14.00 price objective for the company. BNP Paribas Exane began coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They set an “outperform” rating and a $14.00 price objective for the company. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Stifel Nicolaus set a $20.00 price target on shares of Garrett Motion in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $16.50.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $16.99 on Friday. The firm has a market cap of $3.42 billion, a P/E ratio of 13.38 and a beta of 0.37. The firm has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $11.73. Garrett Motion Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $17.05.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share for the quarter, beating 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% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. Garrett Motion has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.08 dividend. 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 payout ratio is 15.29%.

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.