WINTON GROUP Ltd Buys New Position in Garrett Motion Inc. $GTX

WINTON GROUP Ltd purchased a new position in Garrett Motion Inc. (NASDAQ:GTX) in the second quarter, Holdings Channel.com reports. The fund purchased 26,000 shares of the company’s stock, valued at approximately $942,000.

Several other large investors have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Garrett Motion by 54.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,397 shares of the company’s stock worth $14,434,000 after purchasing an additional 140,254 shares during the period. Castleark Management LLC purchased a new position in shares of Garrett Motion during the second quarter valued at about $17,009,000. Smead Capital Management Inc. purchased a new position in shares of Garrett Motion during the fourth quarter valued at about $4,257,000. JB Capital Partners LP bought a new position in Garrett Motion in the second quarter worth about $3,296,930. Finally, Walleye Capital LLC bought a new position in Garrett Motion in the second quarter worth about $3,398,000. Institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

GTX has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $36.00 in a research note on Thursday, July 30th. BWS Financial restated a “buy” rating and set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, July 30th. Finally, Wall Street Zen cut Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion currently has an average rating of “Buy” and an average price target of $38.60.

Insider Buying and Selling

In other Garrett Motion news, SVP Mark Rodrigues sold 6,140 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total value of $204,462.00. Following the sale, the senior vice president directly owned 77,038 shares of the company’s stock, valued at approximately $2,565,365.40. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Daniel Deiro sold 30,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total value of $801,000.00. Following the completion of the sale, the senior vice president directly owned 133,783 shares in the company, valued at approximately $3,572,006.10. This represents a 18.32% 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. In the last ninety days, insiders have sold 56,140 shares of company stock valued at $1,543,262. 1.10% of the stock is owned by corporate insiders.

Garrett Motion Price Performance

NASDAQ:GTX opened at $27.62 on Monday. Garrett Motion Inc. has a one year low of $12.26 and a one year high of $36.25. The company’s 50-day simple moving average is $29.48 and its 200 day simple moving average is $26.84. The firm has a market capitalization of $5.15 billion, a P/E ratio of 15.18, a PEG ratio of 0.71 and a beta of 0.79.

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

Garrett Motion Dividend Announcement

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

About Garrett Motion

Garrett Motion Inc is a technology company that develops products and software for the automotive and commercial vehicle industries. Its portfolio is focused on improving vehicle performance, fuel efficiency, emissions control and electrification.

The company’s products include turbochargers, electric boosting systems, fuel-cell compressors, thermal-management technologies and related automotive software. Garrett supplies components and systems for passenger vehicles, commercial vehicles and motorsports applications, while also serving the automotive aftermarket.

Garrett Motion has roots in Honeywell’s transportation systems business and became an independent publicly traded company in 2018.