Garrett Motion Inc. $GTX Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL decreased its stake in Garrett Motion Inc. (NYSE:GTX) by 87.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,568 shares of the company’s stock after selling 373,487 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Garrett Motion were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion during the 1st quarter worth about $42,000. Tower Research Capital LLC TRC acquired a new stake in shares of Garrett Motion in the second quarter worth $45,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Garrett Motion in the second quarter valued at about $61,000. Blue Trust Inc. grew its holdings in shares of Garrett Motion by 254.7% during the 3rd quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock worth $84,000 after purchasing an additional 4,445 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in Garrett Motion in the 2nd quarter valued at $121,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total value of $2,926,080.00. Following the transaction, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total transaction of $405,800.00. Following the sale, the senior vice president directly owned 160,994 shares in the company, valued at $3,266,568.26. This trade represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 337,000 shares of company stock worth $6,839,290 in the last ninety days. 0.83% of the stock is owned by insiders.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $18.17 on Wednesday. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $21.42. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 14.31 and a beta of 0.31. The business has a fifty day simple moving average of $18.79 and a two-hundred day simple moving average of $16.97.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.8%. Garrett Motion’s payout ratio is 21.05%.

Garrett Motion declared that its board has initiated a share repurchase program on Wednesday, December 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.