JB Capital Partners LP Makes New $3.30 Million Investment in Garrett Motion Inc. $GTX

JB Capital Partners LP purchased a new stake in Garrett Motion Inc. (NASDAQ:GTX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 91,000 shares of the company’s stock, valued at approximately $3,296,930. Garrett Motion makes up about 0.0% of JB Capital Partners LP’s holdings, making the stock its 28th largest position.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Garrett Motion in the second quarter worth about $461,794,000. Fuller & Thaler Asset Management Inc. bought a new stake in Garrett Motion in the fourth quarter valued at approximately $180,383,000. Arrowstreet Capital Limited Partnership grew its stake in 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 during the third quarter worth about $40,590,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Garrett Motion in the third quarter worth approximately $36,539,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Mark Albert Rodrigues sold 10,516 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the transaction, the senior vice president directly owned 83,178 shares in the company, valued at $2,813,079.96. This trade represents a 11.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the 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 completion of the transaction, the chief financial officer owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 126,656 shares of company stock valued at $4,072,413 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research report on Thursday, May 21st. BWS Financial reaffirmed a “buy” rating and issued a $42.00 price target on shares of Garrett Motion in a research note on Thursday, July 30th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen downgraded shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Stifel Nicolaus lifted their target price on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Garrett Motion presently has an average rating of “Moderate Buy” and an average price target of $38.60.

Garrett Motion Stock Performance

Garrett Motion stock traded down $0.35 during trading hours on Friday, hitting $27.08. 1,121,619 shares of the stock were exchanged, compared to its average volume of 2,583,895. The stock has a market capitalization of $5.05 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.69 and a beta of 0.82. The business’s 50-day moving average is $30.95 and its two-hundred day moving average is $26.28. Garrett Motion Inc. has a 12 month low of $12.26 and a 12 month high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The company had revenue of $976.00 million for the quarter. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts predict that Garrett Motion Inc. will post 1.91 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s payout ratio is 17.58%.

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.