Garrett Motion Inc. $GTX Stock: Leuthold Group LLC Trims Position

Leuthold Group LLC lessened its stake in Garrett Motion Inc. (NASDAQ:GTX) by 20.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 256,189 shares of the company’s stock after selling 66,329 shares during the quarter. Leuthold Group LLC’s holdings in Garrett Motion were worth $6,669,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GTX. Convergence Investment Partners LLC grew its stake in Garrett Motion by 0.9% in the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after buying an additional 423 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Garrett Motion by 39.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock valued at $44,000 after acquiring an additional 476 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Garrett Motion by 22.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after buying an additional 629 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Garrett Motion during the 2nd quarter valued at about $27,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Garrett Motion by 2.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock worth $707,000 after acquiring an additional 995 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Insider Buying and Selling

In related news, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total value of $537,800.00. Following the transaction, the senior vice president owned 113,783 shares of the company’s stock, valued at approximately $3,059,624.87. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Garrett Motion Stock Up 3.1%

GTX stock opened at $20.75 on Tuesday. The business has a 50-day simple moving average of $24.77 and a 200 day simple moving average of $25.38. Garrett Motion Inc. has a 52 week low of $15.54 and a 52 week high of $36.25. The company has a market cap of $3.83 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Thursday, October 29th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Garrett Motion had a net margin of 9.97% and a negative return on equity of 52.43%. The firm had revenue of $930.00 million for the quarter. During the same period in the previous year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts anticipate that Garrett Motion Inc. will post 1.88 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.32 annualized dividend and a yield of 1.5%. Garrett Motion’s dividend payout ratio is presently 16.41%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GTX. Freedom Broker raised shares of Garrett Motion from a “hold” rating to a “buy” rating and lowered their price target for the company from $34.00 to $31.00 in a report on Friday, October 30th. Weiss Ratings cut Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, September 15th. Finally, Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

About Garrett Motion

Garrett Motion designs and manufactures automotive technologies focused on improving vehicle performance, fuel efficiency and emissions. Its products include turbochargers for passenger vehicles and commercial vehicles, along with electric boosting technologies that support conventional, hybrid and electric powertrains.

The company also develops technologies for zero-emission applications, including compressors for hydrogen fuel-cell systems. Its products and engineering services are used by automakers and commercial-vehicle manufacturers around the world.

Garrett Motion became an independent company in 2018 after being spun off from Honeywell’s transportation systems business.