Hillsdale Investment Management Inc. Purchases 21,507 Shares of Garrett Motion Inc. $GTX

Hillsdale Investment Management Inc. boosted its holdings in Garrett Motion Inc. (NASDAQ:GTX) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 597,457 shares of the company’s stock after buying an additional 21,507 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.32% of Garrett Motion worth $10,856,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the first quarter valued at $42,000. Jane Street Group LLC grew its stake in shares of Garrett Motion by 641.7% in the first quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock worth $761,000 after purchasing an additional 78,661 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Garrett Motion in the second quarter worth $121,000. Legal & General Group Plc increased its holdings in Garrett Motion by 30.4% in the second quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock valued at $1,024,000 after purchasing an additional 22,727 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in Garrett Motion in the second quarter valued at $225,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating on the stock. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research note on Thursday, May 21st. Finally, Stifel Nicolaus upped their target price on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.83.

Garrett Motion Stock Down 2.5%

GTX opened at $31.50 on Tuesday. Garrett Motion Inc. has a twelve month low of $11.04 and a twelve month high of $36.25. The company has a fifty day moving average of $32.30 and a 200-day moving average of $23.60. The stock has a market cap of $5.90 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts anticipate that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion’s payout ratio is currently 18.71%.

Insiders Place Their Bets

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 6,140 shares of the business’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the transaction, the director owned 124,885 shares in the company, valued at $3,898,909.70. The trade was a 12.09% 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 have sold 213,834 shares of company stock worth $6,918,710 in the last quarter. 1.10% of the stock is currently 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.