Twin Tree Management LP Buys Shares of 56,662 Garrett Motion Inc. $GTX

Twin Tree Management LP purchased a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the second quarter, HoldingsChannel.com reports. The fund purchased 56,662 shares of the company’s stock, valued at approximately $2,053,000.

A number of other large investors have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. lifted its position in Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after purchasing an additional 1,422 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Garrett Motion in the second quarter worth approximately $27,000. Global Retirement Partners LLC grew its position 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. grew its position in Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp purchased a new stake in Garrett Motion during the 1st quarter valued at $42,000. 86.27% of the stock is currently owned by institutional investors.

Insider Transactions at Garrett Motion

In related news, CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction on Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the transaction, the chief financial officer owned 261,909 shares in the company, valued at approximately $8,362,754.37. The trade was a 29.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 company’s stock in a transaction on 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 transaction, the senior vice president directly owned 147,956 shares of the company’s stock, valued at $4,882,548. This represents a 32.12% 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. Insiders sold a total of 196,656 shares of company stock valued at $6,382,413 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

GTX has been the topic of a number of research reports. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. Stifel Nicolaus upped their price objective on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. BWS Financial reissued a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a report on Thursday, July 30th. Finally, Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.60.

Garrett Motion Stock Up 0.8%

GTX stock opened at $26.62 on Friday. The business’s 50-day moving average price is $31.55 and its 200-day moving average price is $26.00. The stock has a market cap of $4.96 billion, a P/E ratio of 14.63, a PEG ratio of 0.68 and a beta of 0.82. Garrett Motion Inc. has a twelve month low of $12.26 and a twelve month high of $36.25.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. On average, equities research analysts expect that Garrett Motion Inc. will post 1.91 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Garrett Motion’s dividend payout ratio is 17.58%.

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.