Orchard Capital Management LLC Decreases Stock Holdings in Garrett Motion Inc. $GTX

Orchard Capital Management LLC lowered its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 48.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,699 shares of the company’s stock after selling 145,033 shares during the quarter. Garrett Motion accounts for about 1.8% of Orchard Capital Management LLC’s portfolio, making the stock its 15th largest position. Orchard Capital Management LLC owned about 0.08% of Garrett Motion worth $2,093,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in shares of Garrett Motion in the 1st quarter valued at about $42,000. Tower Research Capital LLC TRC bought a new stake in Garrett Motion during the second quarter worth approximately $45,000. Amalgamated Bank purchased a new stake in Garrett Motion during the second quarter valued at approximately $46,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $61,000. Finally, Blue Trust Inc. boosted its holdings in shares of Garrett Motion by 254.7% in the 3rd quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock worth $84,000 after purchasing an additional 4,445 shares during the period. 86.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garrett Motion

In related news, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the sale, the chief executive officer owned 905,546 shares in the company, valued at approximately $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the completion of the transaction, the senior vice president directly owned 160,994 shares in the company, valued at approximately $3,266,568.26. This trade represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 337,000 shares of company stock valued at $6,839,290 in the last three months. Company insiders own 0.83% of the company’s stock.

Garrett Motion Stock Down 3.3%

GTX opened at $18.87 on Friday. The business has a fifty day moving average of $18.88 and a 200 day moving average of $16.33. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $21.42. The stock has a market cap of $3.58 billion, a P/E ratio of 14.86 and a beta of 0.31.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.Garrett Motion’s revenue was up 5.6% on a year-over-year basis. Equities analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 3rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.7%. Garrett Motion’s dividend payout ratio (DPR) is presently 21.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GTX shares. Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Stifel Nicolaus lifted their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. JPMorgan Chase & Co. started coverage on shares of Garrett Motion in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 target price on the stock. Finally, BWS Financial raised their target price on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Garrett Motion currently 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.