Bryce Point Capital LLC Buys New Stake in Garrett Motion Inc. $GTX

Bryce Point Capital LLC purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,076 shares of the company’s stock, valued at approximately $158,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Deutsche Bank AG raised its stake 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 valued at $79,000 after purchasing an additional 1,181 shares in the last quarter. Bank of Montreal Can increased its stake in Garrett Motion by 5.7% during the 2nd quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock valued at $610,000 after buying an additional 3,106 shares during the period. Amalgamated Bank bought a new stake in shares of Garrett Motion during the 2nd quarter worth about $46,000. Janney Montgomery Scott LLC lifted its stake in shares of Garrett Motion by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 329,626 shares of the company’s stock worth $3,464,000 after acquiring an additional 4,374 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Garrett Motion by 4,655.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock valued at $47,000 after acquiring an additional 4,423 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BNP Paribas assumed coverage on Garrett Motion in a report on Wednesday, July 16th. They set an “outperform” rating on the stock. BNP Paribas Exane started coverage on Garrett Motion in a research report on Wednesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. Stifel Nicolaus set a $20.00 price objective on Garrett Motion in a report on Friday, October 24th. BWS Financial reaffirmed a “buy” rating and set a $18.00 target price on shares of Garrett Motion in a research note on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Garrett Motion in a research report on Monday, October 20th. They issued a “hold” rating and a $14.00 price target on the stock. One 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $16.50.

Insider Transactions at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the business’s stock in a transaction that occurred on 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 owned 20,009,945 shares in the company, valued at $265,732,069.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Centerbridge Credit Partners M sold 9,000,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 4,740,569 shares of the company’s stock, valued at $58,166,781.63. This represents a 65.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,418,403 shares of company stock valued at $142,169,564 over the last ninety days. Insiders own 0.83% of the company’s stock.

Garrett Motion Stock Performance

Shares of NYSE:GTX opened at $17.15 on Wednesday. The company has a market capitalization of $3.34 billion, a PE ratio of 13.50 and a beta of 0.37. The stock has a fifty day moving average of $13.84 and a 200-day moving average of $12.18. Garrett Motion Inc. has a one year low of $7.01 and a one year high of $17.57.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.During the same period in the previous year, the business 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. As a group, research analysts forecast that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, December 1st. This is a boost from Garrett Motion’s previous quarterly dividend of $0.06. Garrett Motion’s dividend payout ratio is presently 20.38%.

About Garrett Motion

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.