Garrett Motion Inc. $GTX Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its position in Garrett Motion Inc. (NASDAQ:GTX) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 849,984 shares of the company’s stock after selling 288,591 shares during the quarter. Pacer Advisors Inc.’s holdings in Garrett Motion were worth $14,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its holdings in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after purchasing an additional 1,422 shares during the period. Spire Wealth Management lifted its stake in shares of Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in Garrett Motion during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Insider Activity

In other news, CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the sale, the chief financial officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of Garrett Motion 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 $2,813,079.96. This represents a 11.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 207,694 shares of company stock worth $6,714,248 over the last three months. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Stifel Nicolaus boosted 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 objective on shares of Garrett Motion in a research report on Thursday, May 21st. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Garrett Motion currently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

Garrett Motion Price Performance

Shares of NASDAQ GTX opened at $34.32 on Friday. Garrett Motion Inc. has a 1-year low of $9.57 and a 1-year high of $35.06. The business has a 50-day moving average of $28.12 and a 200-day moving average of $21.71. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.08 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last announced its 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 business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm’s revenue was up 12.2% on a year-over-year basis. Research analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.9%. Garrett Motion’s dividend payout ratio (DPR) is 18.71%.

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.