Segall Bryant & Hamill LLC Lowers Stock Holdings in Garrett Motion Inc. $GTX

Segall Bryant & Hamill LLC reduced its position in Garrett Motion Inc. (NASDAQ:GTX) by 49.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,338 shares of the company’s stock after selling 108,716 shares during the quarter. Segall Bryant & Hamill LLC owned 0.06% of Garrett Motion worth $2,059,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Arete Wealth Advisors LLC bought a new stake in Garrett Motion in the 1st quarter worth approximately $224,000. Janus Henderson Group PLC grew its position in Garrett Motion by 22.2% during the first quarter. Janus Henderson Group PLC now owns 78,600 shares of the company’s stock valued at $1,429,000 after acquiring an additional 14,300 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Garrett Motion by 50.2% during the first quarter. California State Teachers Retirement System now owns 202,555 shares of the company’s stock worth $3,680,000 after acquiring an additional 67,740 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Garrett Motion by 2.5% during the first quarter. The Manufacturers Life Insurance Company now owns 88,693 shares of the company’s stock worth $1,612,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Garrett Motion by 25.7% in the 1st quarter. Quantinno Capital Management LP now owns 16,703 shares of the company’s stock worth $303,000 after acquiring an additional 3,415 shares during the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Stock Up 2.7%

NASDAQ:GTX opened at $31.43 on Wednesday. The firm’s fifty day simple moving average is $32.55 and its 200 day simple moving average is $25.09. The stock has a market cap of $5.86 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 0.81 and a beta of 0.82. Garrett Motion Inc. has a twelve month low of $12.26 and a twelve month high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The business had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. On average, analysts expect that Garrett Motion Inc. will post 1.86 EPS 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. Shareholders of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is 17.58%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Stifel Nicolaus raised their price objective on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Insider Transactions at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the transaction, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. This represents a 32.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the transaction, the chief financial officer owned 261,909 shares in the company, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 213,834 shares of company stock valued at $6,918,710. Insiders own 1.10% of the company’s stock.

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.