500,000 Shares in Garrett Motion Inc. $GTX Purchased by Hill City Capital LP

Hill City Capital LP acquired a new position in Garrett Motion Inc. (NASDAQ:GTX) during the second quarter, HoldingsChannel reports. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $18,115,000. Garrett Motion accounts for 0.5% of Hill City Capital LP’s portfolio, making the stock its 24th biggest position.

Several other large investors have also recently made changes to their positions in the business. Cullen Frost Bankers Inc. boosted its position in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after purchasing an additional 1,422 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in Garrett Motion during the second quarter valued at $27,000. Global Retirement Partners LLC grew its stake 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 acquiring an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake 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 acquiring an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the first quarter valued at $42,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GTX. BWS Financial reiterated a “buy” rating and issued a $42.00 price target on shares of Garrett Motion in a research note on Thursday, July 30th. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a report on Thursday, May 21st. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Stifel Nicolaus increased their target price on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Garrett Motion Stock Performance

GTX stock opened at $26.62 on Monday. Garrett Motion Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The business’s 50-day moving average is $31.55 and its two-hundred day moving average is $26.05. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 0.68 and a beta of 0.82.

Garrett Motion (NASDAQ:GTX) last announced 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 business had revenue of $976.00 million for the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Equities analysts predict that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm 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 $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 (DPR) is presently 17.58%.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the company’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 transaction of $2,310,000.00. Following the completion of the sale, the senior vice president directly owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. This represents a 32.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 $8,362,754.37. The trade was a 29.58% 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. Over the last ninety days, insiders sold 196,656 shares of company stock worth $6,382,413. 1.10% of the stock is owned by company 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.