Yorkville Advisors Global LP Makes New $11.17 Million Investment in Garrett Motion Inc. $GTX

Yorkville Advisors Global LP acquired a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 820,000 shares of the company’s stock, valued at approximately $11,168,000. Garrett Motion makes up about 2.3% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 5th biggest holding. Yorkville Advisors Global LP owned approximately 0.42% of Garrett Motion as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. LSV Asset Management bought a new position in Garrett Motion in the third quarter worth $58,247,000. Merewether Investment Management LP acquired a new position in shares of Garrett Motion in the 3rd quarter valued at $40,590,000. BlueCrest Capital Management Ltd bought a new position in shares of Garrett Motion during the 3rd quarter worth about $36,539,000. William Blair Investment Management LLC boosted its position in shares of Garrett Motion by 51.0% during the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after acquiring an additional 2,605,296 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Garrett Motion by 5,889.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,897,487 shares of the company’s stock valued at $25,844,000 after acquiring an additional 1,865,809 shares during the period. 86.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GTX has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Garrett Motion in a research note on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target for the company. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. BWS Financial increased their price objective on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Stifel Nicolaus lifted their price objective on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Garrett Motion has an average rating of “Moderate Buy” and an average price target of $18.80.

Garrett Motion Stock Up 0.1%

Shares of GTX stock opened at $17.50 on Wednesday. Garrett Motion Inc. has a 12-month low of $7.01 and a 12-month high of $21.42. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.78 and a beta of 0.31. The firm has a fifty day moving average of $18.93 and a 200-day moving average of $16.65.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts expect that Garrett Motion Inc. will post 1.25 earnings per share for the current year.

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.08 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. Garrett Motion’s payout ratio is currently 21.05%.

Garrett Motion declared that its board has initiated a share buyback program on Wednesday, December 3rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction of $337,620.00. Following the sale, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. This trade represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Olivier Rabiller sold 144,000 shares of Garrett Motion stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the transaction, the chief executive officer directly owned 905,546 shares in the company, valued at approximately $18,400,694.72. The trade was a 13.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 337,000 shares of company stock valued at $6,839,290. 0.60% of the stock is owned by corporate insiders.

Garrett Motion Company 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.