Apis Capital Advisors LLC Boosts Holdings in Garrett Motion Inc. $GTX

Apis Capital Advisors LLC grew its holdings in Garrett Motion Inc. (NASDAQ:GTX) by 1,492.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,230,000 shares of the company’s stock after buying an additional 2,090,000 shares during the quarter. Garrett Motion makes up approximately 6.8% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Apis Capital Advisors LLC’s holdings in Garrett Motion were worth $38,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its position in shares of Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after purchasing an additional 1,422 shares during the period. Spire Wealth Management raised its position in shares of Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares during the period. Global Retirement Partners LLC raised its position in shares of Garrett Motion by 156.7% in the fourth 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 during the period. TD Waterhouse Canada Inc. raised its position in shares of Garrett Motion by 1,422.3% in 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 bought a new stake in shares of Garrett Motion in the first quarter valued at approximately $42,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Trading Down 2.5%

Garrett Motion stock opened at $33.76 on Thursday. The firm’s 50 day simple moving average is $27.49 and its 200 day simple moving average is $21.50. The firm has a market capitalization of $6.32 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79. Garrett Motion Inc. has a 1-year low of $9.57 and a 1-year high of $35.06.

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

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion’s payout ratio is currently 18.71%.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares of the company’s stock, valued at $4,882,548. The trade was a 32.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction 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 approximately $8,362,754.37. This represents a 29.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 207,694 shares of company stock worth $6,714,248 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on GTX shares. BWS Financial boosted their price target on shares of Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.83.

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.