Mawer Investment Management Ltd. Buys 242,427 Shares of Garrett Motion Inc. $GTX

Mawer Investment Management Ltd. raised its stake in Garrett Motion Inc. (NASDAQ:GTX) by 105.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 471,640 shares of the company’s stock after purchasing an additional 242,427 shares during the period. Mawer Investment Management Ltd. owned 0.26% of Garrett Motion worth $12,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co grew its position in shares of Garrett Motion by 5.4% in the 3rd quarter. Diversified Trust Co now owns 80,786 shares of the company’s stock valued at $2,103,000 after buying an additional 4,116 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Garrett Motion by 104.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 393,991 shares of the company’s stock worth $10,259,000 after acquiring an additional 201,342 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in Garrett Motion in the third quarter valued at $34,000. Allspring Global Investments Holdings LLC lifted its position in Garrett Motion by 25.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,635,467 shares of the company’s stock valued at $42,931,000 after acquiring an additional 331,995 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Garrett Motion in the third quarter valued at $279,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Activity at Garrett Motion

In other news, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total value of $537,800.00. Following the completion of the sale, the senior vice president owned 113,783 shares in the company, valued at approximately $3,059,624.87. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Garrett Motion Price Performance

Shares of NASDAQ:GTX traded down $0.62 during trading on Friday, reaching $20.88. The company had a trading volume of 2,106,696 shares, compared to its average volume of 4,442,903. Garrett Motion Inc. has a fifty-two week low of $15.54 and a fifty-two week high of $36.25. The stock’s fifty day moving average price is $24.29 and its 200 day moving average price is $25.44. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Garrett Motion had a negative return on equity of 52.43% and a net margin of 9.97%. The firm had revenue of $930.00 million during the quarter. During the same period in the prior year, the business earned $0.38 earnings per share. Garrett Motion’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Garrett Motion Inc. will post 1.88 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. Garrett Motion’s dividend payout ratio is presently 16.41%.

Analysts Set New Price Targets

Several research firms have issued reports on GTX. Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Freedom Broker raised Garrett Motion from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $34.00 to $31.00 in a report on Friday, October 30th. Weiss Ratings cut Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. reduced their target price on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, September 15th. Finally, BWS Financial reissued a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a research report on Thursday, October 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Garrett Motion Profile

Garrett Motion designs and manufactures automotive technologies focused on improving vehicle performance, fuel efficiency and emissions. Its products include turbochargers for passenger vehicles and commercial vehicles, along with electric boosting technologies that support conventional, hybrid and electric powertrains. The company also develops technologies for zero-emission applications, including compressors for hydrogen fuel-cell systems. Its products and engineering services are used by automakers and commercial-vehicle manufacturers around the world.