78,600 Shares in Garrett Motion Inc. $GTX Purchased by Jupiter Topco LLC

Jupiter Topco LLC acquired a new position in shares of Garrett Motion Inc. (NASDAQ:GTX) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 78,600 shares of the company’s stock, valued at approximately $2,847,000.

A number of other hedge funds also recently bought and sold shares of GTX. Wesbanco Bank Inc. raised its holdings in shares of Garrett Motion by 75.0% during the fourth quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock valued at $1,831,000 after acquiring an additional 45,000 shares during the period. Castleark Management LLC acquired a new position in Garrett Motion in the 2nd quarter worth approximately $17,009,000. Smead Capital Management Inc. acquired a new position in Garrett Motion in the 4th quarter worth approximately $4,257,000. Carmel Capital Management L.L.C. purchased a new position in Garrett Motion during the 1st quarter worth approximately $5,719,000. Finally, JB Capital Partners LP purchased a new position in Garrett Motion during the 2nd quarter worth approximately $3,296,930. 86.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GTX has been the subject of a number of research analyst reports. BWS Financial restated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a report on Thursday, July 30th. Stifel Nicolaus lifted their price target on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their price objective on Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a research note on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.60.

Insiders Place Their Bets

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the transaction, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This represents a 29.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total value of $204,462.00. Following the sale, the senior vice president directly owned 77,038 shares of the company’s stock, valued at $2,565,365.40. This trade represents a 7.38% 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. In the last three months, insiders have sold 126,656 shares of company stock valued at $4,072,413. Insiders own 1.10% of the company’s stock.

Garrett Motion Stock Performance

Garrett Motion stock opened at $27.01 on Thursday. Garrett Motion Inc. has a twelve month low of $12.26 and a twelve month high of $36.25. The firm has a market cap of $5.04 billion, a PE ratio of 14.84, a P/E/G ratio of 0.68 and a beta of 0.79. The firm’s 50 day moving average price is $30.37 and its two-hundred day moving average price is $26.47.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company had revenue of $976.00 million during the quarter. During the same period last year, the business earned $0.42 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is currently 17.58%.

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.