Caitong International Asset Management Co. Ltd Purchases 4,423 Shares of Garrett Motion Inc. $GTX

Caitong International Asset Management Co. Ltd lifted its position in shares of Garrett Motion Inc. (NYSE:GTX) by 4,655.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,518 shares of the company’s stock after purchasing an additional 4,423 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Garrett Motion were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG boosted its position in shares of Garrett Motion by 14.4% during the first quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock worth $79,000 after purchasing an additional 1,181 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Garrett Motion by 1.3% during the second quarter. Janney Montgomery Scott LLC now owns 329,626 shares of the company’s stock worth $3,464,000 after purchasing an additional 4,374 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the first quarter worth $42,000. KLP Kapitalforvaltning AS boosted its position in shares of Garrett Motion by 41.5% during the second quarter. KLP Kapitalforvaltning AS now owns 20,800 shares of the company’s stock worth $219,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Garrett Motion by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 303,054 shares of the company’s stock worth $2,537,000 after purchasing an additional 6,577 shares in the last quarter. 86.27% of the stock is owned by institutional investors.

Garrett Motion Trading Up 13.8%

GTX opened at $16.99 on Friday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 13.38 and a beta of 0.37. Garrett Motion Inc. has a 12 month low of $7.01 and a 12 month high of $17.05. The firm’s fifty day simple moving average is $13.28 and its 200 day simple moving average is $11.73.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. Garrett Motion has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.08 per share. This is a boost from Garrett Motion’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 annualized dividend and a yield of 1.9%. Garrett Motion’s payout ratio is presently 15.29%.

Insider Activity

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the sale, the insider directly owned 20,009,945 shares of the company’s stock, valued at $265,732,069.60. The trade was a 1.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the sale, the insider directly owned 4,740,569 shares in the company, valued at $58,166,781.63. This trade represents a 65.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,685,545 shares of company stock worth $145,663,491 over the last three months. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GTX. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Garrett Motion in a research report on Monday, October 20th. They issued a “hold” rating and a $14.00 price objective on the stock. BWS Financial reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Garrett Motion in a research report on Friday. BNP Paribas assumed coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They issued an “outperform” rating on the stock. Finally, Stifel Nicolaus set a $20.00 price objective on shares of Garrett Motion in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.50.

Garrett Motion Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.