OMERS ADMINISTRATION Corp Boosts Stock Position in Garrett Motion Inc. $GTX

OMERS ADMINISTRATION Corp grew its stake in shares of Garrett Motion Inc. (NASDAQ:GTX) by 20.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,765 shares of the company’s stock after acquiring an additional 20,500 shares during the quarter. OMERS ADMINISTRATION Corp owned about 0.06% of Garrett Motion worth $2,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cullen Frost Bankers Inc. increased its holdings in Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares during the last quarter. Spire Wealth Management lifted its holdings in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after buying an additional 1,593 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Garrett Motion by 361.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock valued at $49,000 after buying an additional 2,210 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Insider Buying and Selling at Garrett Motion

In other news, SVP Thierry Mabru sold 70,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the sale, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. This represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the sale, the director directly owned 124,885 shares in the company, valued at approximately $3,898,909.70. This trade represents a 12.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 213,834 shares of company stock valued at $6,918,710 over the last quarter. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

GTX has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen cut shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings initiated coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. Finally, Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Garrett Motion presently has an average rating of “Moderate Buy” and a consensus target price of $35.40.

Garrett Motion Stock Down 2.9%

Shares of NASDAQ:GTX opened at $29.92 on Wednesday. The stock has a market cap of $5.60 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 0.91 and a beta of 0.78. Garrett Motion Inc. has a 52-week low of $12.26 and a 52-week high of $36.25. The business’s 50 day moving average is $32.78 and its 200 day moving average is $24.67.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Garrett Motion Inc. will post 1.81 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

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.