Sumitomo Mitsui Trust Group Inc. Purchases 25,925 Shares of Garrett Motion Inc. $GTX

Sumitomo Mitsui Trust Group Inc. lifted its position in Garrett Motion Inc. (NASDAQ:GTX) by 202.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,725 shares of the company’s stock after buying an additional 25,925 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Garrett Motion were worth $1,008,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Garrett Motion by 23.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 42,100 shares of the company’s stock valued at $1,096,000 after acquiring an additional 8,000 shares in the last quarter. Tectonic Advisors LLC grew its holdings in Garrett Motion by 17.3% during the third quarter. Tectonic Advisors LLC now owns 89,639 shares of the company’s stock valued at $2,333,000 after purchasing an additional 13,207 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Garrett Motion in the third quarter valued at approximately $32,000. Nisa Investment Advisors LLC raised its position in shares of Garrett Motion by 125.5% in the third quarter. Nisa Investment Advisors LLC now owns 13,970 shares of the company’s stock valued at $364,000 after purchasing an additional 7,774 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in shares of Garrett Motion by 9.6% in the third quarter. CWA Asset Management Group LLC now owns 116,820 shares of the company’s stock worth $3,041,000 after buying an additional 10,197 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Transactions at Garrett Motion

In other news, SVP Daniel Deiro sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total value of $801,000.00. Following the transaction, the senior vice president owned 133,783 shares of the company’s stock, valued at approximately $3,572,006.10. This trade represents a 18.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GTX. BWS Financial reissued a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, October 8th. JPMorgan Chase & Co. reduced their price objective on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, September 15th. Freedom Broker raised Garrett Motion from a “hold” rating to a “buy” rating and decreased their price target for the company from $34.00 to $31.00 in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and boosted their price target for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. Finally, Weiss Ratings lowered Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Six 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 currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Garrett Motion Stock Performance

NASDAQ GTX opened at $20.13 on Friday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 0.57 and a beta of 0.95. Garrett Motion Inc. has a 52 week low of $15.54 and a 52 week high of $36.25. The stock has a fifty day moving average of $24.88 and a 200-day moving average of $25.37.

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

Garrett Motion Dividend Announcement

The firm also recently announced 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 1.6%. Garrett Motion’s dividend payout ratio is presently 16.41%.

Garrett Motion Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.