Little House Capital LLC Makes New Investment in Garrett Motion Inc. $GTX

Little House Capital LLC purchased a new position in Garrett Motion Inc. (NASDAQ:GTX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 167,587 shares of the company’s stock, valued at approximately $3,045,000.

A number of other large investors also recently modified their holdings of the business. Comerica Bank grew its position in Garrett Motion by 22.0% in the 4th quarter. Comerica Bank now owns 251,371 shares of the company’s stock valued at $4,381,000 after buying an additional 45,370 shares in the last quarter. Wesbanco Bank Inc. raised its position in shares of Garrett Motion by 75.0% during the 4th quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock worth $1,831,000 after buying an additional 45,000 shares in the last quarter. Smead Capital Management Inc. bought a new stake in shares of Garrett Motion during the 4th quarter worth about $4,257,000. Norges Bank acquired a new stake in shares of Garrett Motion in the 4th quarter worth approximately $29,237,000. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of Garrett Motion in the 4th quarter worth approximately $912,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTX has been the topic of a number of research analyst reports. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings initiated coverage on Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating on the stock. Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a research report on Thursday, May 21st. BWS Financial reaffirmed a “buy” rating and set a $42.00 price target on shares of Garrett Motion in a research note on Monday, July 6th. Finally, Wall Street Zen cut Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.40.

Garrett Motion Trading Up 0.7%

Shares of NASDAQ GTX opened at $31.77 on Friday. Garrett Motion Inc. has a twelve month low of $11.43 and a twelve month high of $36.25. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.93 and a beta of 0.78. The firm has a 50-day moving average of $32.66 and a two-hundred day moving average of $23.95.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating 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 net margin of 9.29% and a negative return on equity of 42.77%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts predict that Garrett Motion Inc. will post 1.82 earnings per share for the current year.

Garrett Motion Dividend Announcement

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

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 6,140 shares of Garrett Motion stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the transaction, the senior vice president owned 77,038 shares in the company, valued at approximately $2,565,365.40. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction that occurred 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 owned 261,909 shares in the company, valued at approximately $8,362,754.37. This trade represents a 29.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 213,834 shares of company stock valued at $6,918,710. 1.10% of the stock is currently owned by corporate insiders.

Garrett Motion Company 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.