Private Advisor Group LLC Invests $1.22 Million in Garrett Motion Inc. $GTX

Private Advisor Group LLC bought a new position in Garrett Motion Inc. (NASDAQ:GTX) during the first quarter, Holdings Channel reports. The firm bought 67,233 shares of the company’s stock, valued at approximately $1,222,000.

Other institutional investors have also added to or reduced their stakes in the company. 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 grew its holdings in shares of Garrett Motion by 170.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after purchasing an additional 3,241,952 shares in the last quarter. Merewether Investment Management LP bought a new stake in Garrett Motion in the third quarter worth $40,590,000. BlueCrest Capital Management Ltd bought a new stake in Garrett Motion in the third quarter worth $36,539,000. Finally, Apis Capital Advisors LLC raised its stake in Garrett Motion by 1,492.9% during the fourth quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company’s stock valued at $38,869,000 after purchasing an additional 2,090,000 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Analyst Ratings Changes

GTX has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a research report on Friday, May 1st. Freedom Capital cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, BWS Financial restated a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Garrett Motion has a consensus rating of “Moderate Buy” and an average target price of $31.83.

Garrett Motion Stock Performance

Garrett Motion stock opened at $32.30 on Monday. The firm has a 50-day moving average price of $32.19 and a 200-day moving average price of $23.50. The firm has a market capitalization of $6.05 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. Garrett Motion Inc. has a 12-month low of $11.04 and a 12-month high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, June 1st. Garrett Motion’s payout ratio is 18.71%.

Insiders Place Their Bets

In other news, SVP Mark Albert Rodrigues sold 10,516 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the sale, the senior vice president directly owned 83,178 shares in the company, valued at approximately $2,813,079.96. This represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the sale, the director directly owned 124,885 shares of the company’s stock, valued at $3,898,909.70. This represents a 12.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 213,834 shares of company stock worth $6,918,710. Corporate insiders own 1.10% of the company’s stock.

About Garrett Motion

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.