Mitsubishi UFJ Trust & Banking Corp Sells 94,309 Shares of Garrett Motion Inc. $GTX

Mitsubishi UFJ Trust & Banking Corp decreased its position in Garrett Motion Inc. (NASDAQ:GTX) by 41.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,443 shares of the company’s stock after selling 94,309 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Garrett Motion were worth $2,343,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management raised its stake in shares of 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 buying an additional 1,350 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after buying an additional 1,593 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Garrett Motion in the first quarter worth about $42,000. Tower Research Capital LLC TRC bought a new position in shares of Garrett Motion in the second quarter worth about $45,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Garrett Motion by 99.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,453 shares of the company’s stock worth $60,000 after buying an additional 1,720 shares during the period. Institutional investors own 86.27% of the company’s stock.

Analysts Set New Price Targets

GTX has been the topic of several recent research reports. Weiss Ratings initiated coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. BWS Financial raised their price objective on Garrett Motion from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a research note on Friday. Finally, Freedom Capital raised Garrett Motion to a “strong-buy” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion currently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

Garrett Motion Trading Down 3.4%

NASDAQ:GTX opened at $25.00 on Tuesday. Garrett Motion Inc. has a 12-month low of $9.57 and a 12-month high of $26.38. The stock has a 50-day moving average price of $19.08 and a 200 day moving average price of $17.98. The stock has a market capitalization of $4.68 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.07 and a beta of 0.70.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Thursday, April 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts predict that Garrett Motion Inc. will post 1.75 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. Garrett Motion’s dividend payout ratio (DPR) is currently 21.05%.

Insider Buying and Selling

In related news, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the sale, the chief executive officer owned 905,546 shares in the company, valued at approximately $18,400,694.72. This trade represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the sale, the senior vice president owned 160,994 shares of the company’s stock, valued at $3,266,568.26. This represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 337,000 shares of company stock worth $6,839,290. 1.10% of the stock is owned by corporate insiders.

Garrett Motion 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.