Mitsubishi UFJ Trust & Banking Corp Has $3.12 Million Stock Holdings in Garrett Motion Inc. $GTX

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 23.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 228,752 shares of the company’s stock after selling 69,640 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Garrett Motion were worth $3,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GTX. Raymond James Financial Inc. raised its position in shares of Garrett Motion by 2.3% during the second quarter. Raymond James Financial Inc. now owns 77,365 shares of the company’s stock worth $813,000 after purchasing an additional 1,759 shares during the period. Garden State Investment Advisory Services LLC raised its holdings in Garrett Motion by 16.4% during the 2nd quarter. Garden State Investment Advisory Services LLC now owns 13,667 shares of the company’s stock worth $144,000 after buying an additional 1,922 shares during the period. Baron Wealth Management LLC lifted its stake in Garrett Motion by 13.0% in the third quarter. Baron Wealth Management LLC now owns 24,876 shares of the company’s stock valued at $339,000 after buying an additional 2,857 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Garrett Motion by 5.7% in the second quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock valued at $610,000 after buying an additional 3,106 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Garrett Motion in the second quarter valued at approximately $45,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Stock Performance

Shares of NYSE:GTX opened at $18.04 on Friday. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $19.28. The company has a market capitalization of $3.51 billion, a P/E ratio of 14.20 and a beta of 0.25. The company has a 50-day simple moving average of $17.52 and a 200 day simple moving average of $15.12.

Garrett Motion announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 3rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently commented on GTX. Stifel Nicolaus boosted their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft began coverage on Garrett Motion in a research note on Monday, October 20th. They issued a “hold” rating and a $14.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Garrett Motion in a report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target on the stock. BWS Financial upped their price objective on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

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.