Geode Capital Management LLC Grows Holdings in Garrett Motion Inc. $GTX

Geode Capital Management LLC grew its stake in Garrett Motion Inc. (NASDAQ:GTX) by 10.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,881,043 shares of the company’s stock after buying an additional 380,729 shares during the quarter. Geode Capital Management LLC’s holdings in Garrett Motion were worth $67,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GTX. Cullen Frost Bankers Inc. grew its stake in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after buying an additional 1,422 shares in the last quarter. Spire Wealth Management grew its stake 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 buying an additional 1,350 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Garrett Motion by 1,422.3% in the 4th 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 in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion in the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Insider Activity at Garrett Motion

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the sale, the director directly owned 124,885 shares in the company, valued at $3,898,909.70. This represents a 12.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 on Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the sale, the chief financial officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 197,178 shares of company stock worth $6,358,597 in the last three months. 1.10% of the stock is owned by insiders.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $32.25 on Tuesday. Garrett Motion Inc. has a 52-week low of $9.57 and a 52-week high of $34.34. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.00 and a beta of 0.79. The company has a fifty day moving average of $25.35 and a 200-day moving average of $20.65.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. Garrett Motion’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Garrett Motion’s dividend payout ratio is currently 18.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BWS Financial upped their price objective on shares of Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. Stifel Nicolaus upped their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.83.

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.