Capula Management Ltd Acquires Shares of 115,107 Garrett Motion Inc. $GTX

Capula Management Ltd bought a new stake in shares of Garrett Motion Inc. (NYSE:GTX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 115,107 shares of the company’s stock, valued at approximately $1,568,000. Capula Management Ltd owned about 0.06% of Garrett Motion at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. William Blair Investment Management LLC grew its position in Garrett Motion by 51.0% during the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after buying an additional 2,605,296 shares during the period. LSV Asset Management bought a new stake in Garrett Motion in the third quarter worth about $58,247,000. Vanguard Group Inc. raised its position in Garrett Motion by 40.4% in the third quarter. Vanguard Group Inc. now owns 4,189,811 shares of the company’s stock worth $57,065,000 after acquiring an additional 1,205,549 shares during the period. Dimensional Fund Advisors LP boosted its stake in Garrett Motion by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,186,089 shares of the company’s stock valued at $43,390,000 after acquiring an additional 70,155 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Garrett Motion by 92.3% in the second quarter. Geode Capital Management LLC now owns 3,053,869 shares of the company’s stock valued at $32,100,000 after acquiring an additional 1,466,048 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Daniel Deiro sold 20,000 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total transaction of $405,800.00. Following the completion of the transaction, the senior vice president directly owned 160,994 shares in the company, valued at $3,266,568.26. The trade was a 11.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julia Steyn sold 17,000 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the completion of the transaction, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. The trade was a 25.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 337,000 shares of company stock valued at $6,839,290. Company insiders own 0.83% of the company’s stock.

Garrett Motion Stock Down 0.5%

Shares of NYSE GTX opened at $17.59 on Friday. The company has a market cap of $3.34 billion, a P/E ratio of 13.85 and a beta of 0.31. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $21.42. The business has a 50-day simple moving average of $18.95 and a two-hundred day simple moving average of $16.56.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, beating 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current year.

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

Garrett Motion Dividend Announcement

The company also recently announced 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. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, March 2nd. Garrett Motion’s dividend payout ratio is 21.05%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GTX. Stifel Nicolaus raised their price target 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. began coverage on Garrett Motion in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price objective on the stock. BWS Financial increased their price objective on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Garrett Motion presently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

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.