Police & Firemen s Retirement System of New Jersey Invests $302,000 in Garrett Motion Inc. $GTX

Police & Firemen s Retirement System of New Jersey bought a new stake in Garrett Motion Inc. (NYSE:GTX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,757 shares of the company’s stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GTX. Deutsche Bank AG grew its position in Garrett Motion by 14.4% during the 1st quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock worth $79,000 after purchasing an additional 1,181 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Garrett Motion by 5.7% during the second quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock worth $610,000 after buying an additional 3,106 shares during the period. Amalgamated Bank purchased a new position in shares of Garrett Motion during the second quarter worth about $46,000. Janney Montgomery Scott LLC increased its position in Garrett Motion by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 329,626 shares of the company’s stock valued at $3,464,000 after acquiring an additional 4,374 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in Garrett Motion by 4,655.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock valued at $47,000 after acquiring an additional 4,423 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

GTX has been the topic of several analyst reports. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Stifel Nicolaus set a $20.00 price objective on shares of Garrett Motion in a research report on Friday, October 24th. BWS Financial reissued a “buy” rating and issued a $18.00 price objective on shares of Garrett Motion in a research note on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Garrett Motion in a research note on Monday, October 20th. They issued a “hold” rating and a $14.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $16.50.

Garrett Motion Price Performance

Garrett Motion stock opened at $16.63 on Thursday. The stock’s 50 day moving average price is $15.01 and its 200 day moving average price is $12.92. Garrett Motion Inc. has a 1-year low of $7.01 and a 1-year high of $17.91. The company has a market cap of $3.23 billion, a PE ratio of 13.09 and a beta of 0.41.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.During the same period in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Garrett Motion has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.08 per share. This is an increase from Garrett Motion’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. Garrett Motion’s payout ratio is presently 20.38%.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $13.28, for a total value of $4,655,516.48. Following the completion of the transaction, the insider directly owned 20,009,945 shares of the company’s stock, valued at approximately $265,732,069.60. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 613,403 shares of company stock worth $8,133,314 in the last quarter. Corporate insiders own 0.83% of the company’s stock.

Garrett Motion Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.