Segall Bryant & Hamill LLC Invests $706,000 in Garrett Motion Inc. $GTX

Segall Bryant & Hamill LLC bought a new position in shares of Garrett Motion Inc. (NYSE:GTX) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 51,851 shares of the company’s stock, valued at approximately $706,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion in the first quarter valued at $42,000. Jane Street Group LLC increased its stake in shares of Garrett Motion by 641.7% in the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after acquiring an additional 78,661 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Garrett Motion in the 2nd quarter valued at $46,000. Bank of Montreal Can grew its position in shares of Garrett Motion by 5.7% in the 2nd quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock valued at $610,000 after purchasing an additional 3,106 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Garrett Motion by 105.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,961 shares of the company’s stock valued at $6,537,000 after acquiring an additional 318,907 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Stock Down 2.2%

NYSE GTX opened at $18.46 on Friday. The firm’s 50-day simple moving average is $18.90 and its two-hundred day simple moving average is $16.37. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $21.42. The company has a market cap of $3.51 billion, a PE ratio of 14.54 and a beta of 0.31.

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%.Garrett Motion’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion declared that its board has initiated a share buyback program on Wednesday, December 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders 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 dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. Garrett Motion’s payout ratio is currently 21.05%.

Insider Activity at Garrett Motion

In related news, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the sale, the chief executive officer directly owned 905,546 shares in the company, valued at $18,400,694.72. This represents a 13.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $20.29, for a total transaction of $405,800.00. Following the sale, the senior vice president owned 160,994 shares of the company’s stock, valued at approximately $3,266,568.26. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 337,000 shares of company stock valued at $6,839,290. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GTX shares. BWS Financial raised 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. Stifel Nicolaus lifted their target price on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. started coverage on shares of Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.