Knights of Columbus Asset Advisors LLC Has $2.43 Million Stake in Garrett Motion Inc. $GTX

Knights of Columbus Asset Advisors LLC trimmed its holdings in Garrett Motion Inc. (NASDAQ:GTX) by 38.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 139,468 shares of the company’s stock after selling 88,453 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Garrett Motion were worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Garrett Motion by 45.1% in the third quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company’s stock valued at $23,229,000 after purchasing an additional 529,949 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Garrett Motion during the 3rd quarter worth approximately $1,573,000. Federated Hermes Inc. acquired a new position in shares of Garrett Motion during the 3rd quarter worth approximately $1,646,000. Comerica Bank increased its holdings in shares of Garrett Motion by 22.0% during the 4th quarter. Comerica Bank now owns 251,371 shares of the company’s stock worth $4,381,000 after acquiring an additional 45,370 shares during the last quarter. Finally, Renaissance Group LLC acquired a new position in shares of Garrett Motion in the third quarter valued at approximately $1,156,000. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Trading Down 0.7%

GTX stock opened at $33.66 on Thursday. The stock has a 50-day moving average price of $23.03 and a 200-day moving average price of $19.79. Garrett Motion Inc. has a 1-year low of $9.57 and a 1-year high of $34.34. The firm has a market cap of $6.30 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.13 and a beta of 0.70.

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

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Garrett Motion’s payout ratio is 18.71%.

Wall Street Analysts Forecast Growth

GTX has been the topic of several research reports. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Stifel Nicolaus raised 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. Weiss Ratings assumed coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.83.

Insider Transactions at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the business’s 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

Garrett Motion 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.