Garrett Motion Inc. $GTX Stock Holdings Cut by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its position in shares of Garrett Motion Inc. (NASDAQ:GTX) by 78.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 66,501 shares of the company’s stock after selling 242,328 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Garrett Motion were worth $1,159,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its stake in Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares in the last quarter. Spire Wealth Management raised its position in Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after acquiring an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the 1st quarter valued at about $42,000. Institutional investors own 86.27% of the company’s stock.

Insiders Place Their Bets

In other Garrett Motion news, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion 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 transaction, the director directly owned 124,885 shares of the company’s stock, valued at $3,898,909.70. The trade was a 12.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total value of $2,310,000.00. Following the transaction, the senior vice president owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. This trade represents a 32.12% 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. Over the last quarter, insiders sold 213,834 shares of company stock worth $6,918,710. Corporate insiders own 1.10% of the company’s stock.

Garrett Motion Price Performance

Garrett Motion stock opened at $33.59 on Thursday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.14 and a beta of 0.78. Garrett Motion Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $36.25. The firm has a fifty day moving average price of $30.54 and a two-hundred day moving average price of $22.75.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share (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 negative return on equity of 42.77% and a net margin of 9.29%.The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts expect that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Dividend Announcement

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

Wall Street Analysts Forecast Growth

GTX has been the topic of several research reports. Stifel Nicolaus upped their price target on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings initiated coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. BWS Financial increased their price objective on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.83.

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.