OP Asset Management Ltd Acquires Shares of 34,779 Garrett Motion Inc. $GTX

OP Asset Management Ltd acquired a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 34,779 shares of the company’s stock, valued at approximately $632,000.

Other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Garrett Motion in the 4th quarter valued at $180,383,000. Arrowstreet Capital Limited Partnership raised its holdings in Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after buying an additional 3,241,952 shares during the last quarter. Merewether Investment Management LP acquired a new position in Garrett Motion during the third quarter worth $40,590,000. BlueCrest Capital Management Ltd bought a new position in shares of Garrett Motion in the third quarter valued at $36,539,000. Finally, Apis Capital Advisors LLC lifted its stake in shares of Garrett Motion by 1,492.9% in the fourth quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company’s stock valued at $38,869,000 after buying an additional 2,090,000 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 6,140 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the transaction, the senior vice president owned 77,038 shares in the company, valued at $2,565,365.40. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the sale, the senior vice president directly owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. This represents a 32.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 213,834 shares of company stock valued at $6,918,710. 1.10% of the stock is owned by insiders.

Garrett Motion Trading Up 3.2%

Shares of NASDAQ:GTX opened at $36.22 on Wednesday. The stock’s fifty day simple moving average is $30.27 and its two-hundred day simple moving average is $22.64. Garrett Motion Inc. has a 1-year low of $10.38 and a 1-year high of $36.25. The stock has a market cap of $6.78 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $985.00 million during 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% on a year-over-year basis. On average, sell-side analysts forecast that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on GTX. Freedom Capital downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Weiss Ratings initiated coverage on Garrett Motion in a research note on Wednesday, April 29th. They set a “buy (b)” rating for the company. Stifel Nicolaus boosted their price objective on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, BWS Financial boosted their price objective on Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.83.

Garrett Motion Company 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.