S Squared Technology LLC Buys New Holdings in Garrett Motion Inc. $GTX

S Squared Technology LLC purchased a new position in Garrett Motion Inc. (NASDAQ:GTX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 215,000 shares of the company’s stock, valued at approximately $7,789,450,000. Garrett Motion accounts for approximately 2.4% of S Squared Technology LLC’s holdings, making the stock its 17th biggest position. S Squared Technology LLC owned about 0.12% of Garrett Motion at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GTX. Cullen Frost Bankers Inc. boosted its holdings in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after acquiring an additional 1,422 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Garrett Motion during the second quarter worth $27,000. Global Retirement Partners LLC raised its holdings in shares of Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in 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 purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in Garrett Motion during the first quarter valued at $42,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Wall Street Zen cut Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and raised their target price for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Garrett Motion 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 $25.84 on Tuesday. The company’s fifty day moving average price is $31.38 and its 200 day moving average price is $26.10. Garrett Motion Inc. has a 1 year low of $12.26 and a 1 year high of $36.25. The company has a market capitalization of $4.82 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company had revenue of $976.00 million for the quarter. During the same quarter in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Garrett Motion Inc. will post 1.91 EPS for the current year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Garrett Motion’s dividend payout ratio (DPR) is 17.58%.

Insider Activity

In related news, SVP Mark Albert Rodrigues sold 6,140 shares of Garrett Motion stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the transaction, the senior vice president owned 77,038 shares in the company, valued at $2,565,365.40. The trade was a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the transaction, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. The trade was a 29.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 196,656 shares of company stock worth $6,382,413 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.