Evolve Private Wealth LLC Acquires New Shares in Garrett Motion Inc. $GTX

Evolve Private Wealth LLC acquired a new position in shares of Garrett Motion Inc. (NASDAQ:GTX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,612 shares of the company’s stock, valued at approximately $629,000.

Several other large investors have also added to or reduced their stakes in GTX. Cullen Frost Bankers Inc. grew 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 buying an additional 1,422 shares in the last quarter. Spire Wealth Management increased its position in shares of Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after buying an additional 1,350 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings 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 in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Garrett Motion in the first quarter valued at approximately $42,000. Institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GTX shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research note on Thursday, May 21st. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. BWS Financial boosted their price target on shares of Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Finally, Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Garrett Motion presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

Garrett Motion Trading Down 1.4%

Shares of GTX opened at $33.27 on Thursday. The company has a market cap of $6.23 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.06 and a beta of 0.79. The stock has a 50-day moving average price of $28.99 and a 200-day moving average price of $22.11. Garrett Motion Inc. has a 12-month low of $9.81 and a 12-month high of $35.23.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

The business also recently announced 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. The ex-dividend date was 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%.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value 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 $4,882,548. The trade was a 32.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the transaction, the chief financial officer directly owned 261,909 shares in the company, valued at $8,362,754.37. The trade was a 29.58% 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. Insiders sold 207,694 shares of company stock worth $6,714,248 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

About Garrett Motion

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.