OMERS ADMINISTRATION Corp Takes Position in Garrett Motion Inc. $GTX

OMERS ADMINISTRATION Corp bought a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,265 shares of the company’s stock, valued at approximately $2,401,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cullen Frost Bankers Inc. increased its stake in 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 during the period. Persistent Asset Partners Ltd bought a new stake in Garrett Motion in the second quarter valued at approximately $27,000. Global Retirement Partners LLC boosted its stake in shares of Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. grew its holdings 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 purchasing an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of Garrett Motion in the first quarter worth $42,000. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Stock Up 1.7%

NASDAQ:GTX opened at $26.27 on Wednesday. The firm’s fifty day simple moving average is $31.22 and its 200 day simple moving average is $26.16. The stock has a market cap of $4.90 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.66 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 issued its quarterly earnings data on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The business 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 business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. On average, analysts expect that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 17.58%.

Analyst Upgrades and Downgrades

GTX has been the subject of several analyst reports. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and upped their price objective for the company from $33.00 to $36.00 in a research note on Thursday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, BWS Financial reissued a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Insider Activity

In related news, SVP Thierry Mabru sold 70,000 shares of Garrett Motion stock in a transaction that occurred 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 sale, the senior vice president directly owned 147,956 shares in the company, valued at $4,882,548. The trade was a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the completion of the sale, the senior vice president directly owned 83,178 shares in the company, valued at approximately $2,813,079.96. The trade was a 11.22% 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. Insiders sold a total of 196,656 shares of company stock worth $6,382,413 in the last quarter. 1.10% of the stock is owned by company insiders.

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.