Four Tree Island Advisory LLC Makes New Investment in Garrett Motion Inc. $GTX

Four Tree Island Advisory LLC bought a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 557,101 shares of the company’s stock, valued at approximately $20,184,000. Garrett Motion makes up approximately 6.7% of Four Tree Island Advisory LLC’s holdings, making the stock its 6th biggest holding. Four Tree Island Advisory LLC owned 0.30% of Garrett Motion at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Garrett Motion in the second quarter worth about $461,794,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Garrett Motion during the fourth quarter valued at approximately $180,383,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Garrett Motion by 170.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after purchasing an additional 3,241,952 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of Garrett Motion in the 3rd quarter valued at approximately $40,590,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Garrett Motion in the 3rd quarter worth approximately $36,539,000. Institutional investors own 86.27% of the company’s stock.

Insider Activity

In related news, CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This represents a 29.58% 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, SVP Thierry Mabru sold 70,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the transaction, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. The trade was a 32.12% 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. Over the last 90 days, insiders have sold 196,656 shares of company stock worth $6,382,413. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

GTX has been the topic of several analyst reports. Wall Street Zen downgraded Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research report on Thursday, May 21st. BWS Financial reaffirmed a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Garrett Motion Stock Performance

Shares of NASDAQ GTX opened at $27.91 on Wednesday. Garrett Motion Inc. has a 52-week low of $12.26 and a 52-week high of $36.25. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.74 and a beta of 0.82. The stock has a 50 day moving average price of $31.93 and a 200 day moving average price of $25.87.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million for the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. Analysts forecast that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. Garrett Motion’s dividend payout ratio (DPR) is currently 17.58%.

Garrett Motion 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.