Leuthold Group LLC Makes New $3.33 Million Investment in Garrett Motion Inc. $GTX

Leuthold Group LLC purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 244,565 shares of the company’s stock, valued at approximately $3,331,000. Leuthold Group LLC owned approximately 0.13% of Garrett Motion at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GTX. William Blair Investment Management LLC grew its holdings in Garrett Motion by 2.6% during the 2nd quarter. William Blair Investment Management LLC now owns 5,110,528 shares of the company’s stock worth $53,712,000 after acquiring an additional 128,479 shares in the last quarter. LSV Asset Management bought a new position in shares of Garrett Motion during the third quarter valued at approximately $58,247,000. Geode Capital Management LLC boosted its stake in shares of Garrett Motion by 92.3% during the second quarter. Geode Capital Management LLC now owns 3,053,869 shares of the company’s stock valued at $32,100,000 after purchasing an additional 1,466,048 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. increased its holdings in Garrett Motion by 37.1% during the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,925,770 shares of the company’s stock valued at $30,750,000 after buying an additional 791,177 shares during the period. Finally, Marshall Wace LLP raised its stake in Garrett Motion by 103.4% in the second quarter. Marshall Wace LLP now owns 1,846,068 shares of the company’s stock worth $19,402,000 after buying an additional 938,312 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Stock Up 7.1%

Shares of Garrett Motion stock opened at $20.80 on Thursday. The company has a 50 day moving average price of $17.91 and a 200 day moving average price of $15.55. The firm has a market capitalization of $4.05 billion, a P/E ratio of 16.38 and a beta of 0.33. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $20.94.

Garrett Motion announced that its board has approved a share buyback plan on Wednesday, December 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Garrett Motion in a research note on Monday, October 20th. They issued a “hold” rating and a $14.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. began coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target on the stock. Finally, BWS Financial boosted their price objective on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

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.