Capula Management Ltd Purchases Shares of 137,043 Garrett Motion Inc. $GTX

Capula Management Ltd acquired a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 137,043 shares of the company’s stock, valued at approximately $2,490,000. Capula Management Ltd owned about 0.07% of Garrett Motion at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Cullen Frost Bankers Inc. boosted its holdings in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after acquiring an additional 1,422 shares during the period. Spire Wealth Management increased its stake in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the period. Global Retirement Partners LLC increased its stake in Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. lifted its position in Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after purchasing an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

GTX has been the topic of several recent analyst reports. BWS Financial restated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a report on Monday, July 6th. JPMorgan Chase & Co. increased their price target on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. Finally, Weiss Ratings assumed coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They set a “buy (b)” rating for the company. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.40.

Garrett Motion Stock Performance

Shares of GTX stock opened at $31.52 on Friday. Garrett Motion Inc. has a fifty-two week low of $11.90 and a fifty-two week high of $36.25. The firm has a market cap of $5.90 billion, a P/E ratio of 18.43, a P/E/G ratio of 0.94 and a beta of 0.78. The business’s 50 day moving average price is $32.76 and its 200-day moving average price is $24.40.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. The company’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts predict that Garrett Motion Inc. will post 1.81 EPS for the current year.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion’s payout ratio is presently 18.71%.

Insider Activity at Garrett Motion

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the sale, the chief financial officer directly owned 261,909 shares in the company, valued at $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the firm’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 sale, the senior vice president owned 147,956 shares of the company’s stock, valued at $4,882,548. This trade represents a 32.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 213,834 shares of company stock valued at $6,918,710 over the last quarter. Company insiders own 1.10% of the company’s stock.

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.