State of Wyoming Sells 20,539 Shares of Garrett Motion Inc. $GTX

State of Wyoming cut its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX) by 28.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,061 shares of the company’s stock after selling 20,539 shares during the quarter. State of Wyoming’s holdings in Garrett Motion were worth $907,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GTX. LSV Asset Management bought a new position in shares of Garrett Motion during the third quarter worth approximately $58,247,000. Merewether Investment Management LP bought a new position in shares of Garrett Motion during the third quarter worth approximately $40,590,000. BlueCrest Capital Management Ltd bought a new position in shares of Garrett Motion during the third quarter worth approximately $36,539,000. William Blair Investment Management LLC increased its holdings in shares of Garrett Motion by 51.0% during the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after purchasing an additional 2,605,296 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Garrett Motion by 5,889.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,897,487 shares of the company’s stock worth $25,844,000 after purchasing an additional 1,865,809 shares during the period. 86.27% of the stock is owned by institutional investors.

Insider Activity

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. The trade was a 32.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the sale, the director owned 124,885 shares in the company, valued at $3,898,909.70. This represents a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Garrett Motion Trading Up 2.4%

NASDAQ GTX opened at $32.34 on Thursday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 0.99 and a beta of 0.79. The firm’s 50 day simple moving average is $24.51 and its 200 day simple moving average is $20.32. Garrett Motion Inc. has a 1 year low of $9.57 and a 1 year high of $34.34.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast 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 will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s payout ratio is presently 18.71%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GTX shares. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a report on Thursday, May 21st. Stifel Nicolaus raised their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings began coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They set a “buy (b)” rating on the stock. One equities research 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. Based on data from MarketBeat, Garrett Motion presently has a consensus rating of “Moderate Buy” and an average target price of $31.83.

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.