UBS Group AG Sells 1,429,529 Shares of Garrett Motion Inc. $GTX

UBS Group AG lessened its stake in shares of Garrett Motion Inc. (NASDAQ:GTX) by 53.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,224,196 shares of the company’s stock after selling 1,429,529 shares during the quarter. UBS Group AG’s holdings in Garrett Motion were worth $21,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management purchased a new stake in shares of Garrett Motion in the third quarter worth about $58,247,000. Merewether Investment Management LP bought a new stake in Garrett Motion during the 3rd quarter worth approximately $40,590,000. BlueCrest Capital Management Ltd bought a new stake in Garrett Motion during the 3rd quarter worth approximately $36,539,000. William Blair Investment Management LLC lifted its stake in Garrett Motion by 51.0% in the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after purchasing an additional 2,605,296 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Garrett Motion by 5,889.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,897,487 shares of the company’s stock worth $25,844,000 after purchasing an additional 1,865,809 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BWS Financial boosted their price target on shares of Garrett Motion from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings started coverage on Garrett Motion in a research report on Wednesday, April 29th. They set a “buy (b)” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion presently has an average rating of “Moderate Buy” and an average target price of $22.80.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of Garrett Motion stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the completion of the sale, the director owned 50,233 shares of the company’s stock, valued at $997,627.38. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Olivier Rabiller sold 144,000 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the transaction, the chief executive officer owned 905,546 shares of the company’s stock, valued at $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 337,000 shares of company stock worth $6,839,290 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $29.14 on Tuesday. Garrett Motion Inc. has a 1 year low of $9.57 and a 1 year high of $29.43. The firm has a market cap of $5.45 billion, a PE ratio of 17.04, a PEG ratio of 0.96 and a beta of 0.70. The company has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $18.50.

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

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

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.