Janney Montgomery Scott LLC Boosts Stock Holdings in Garrett Motion Inc. $GTX

Janney Montgomery Scott LLC boosted its position in shares of Garrett Motion Inc. (NYSE:GTX) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,626 shares of the company’s stock after acquiring an additional 4,374 shares during the period. Janney Montgomery Scott LLC owned 0.16% of Garrett Motion worth $3,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Garrett Motion in the 1st quarter valued at $381,000. Vanguard Group Inc. boosted its position in Garrett Motion by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company’s stock valued at $19,285,000 after buying an additional 62,844 shares during the period. Victory Capital Management Inc. boosted its position in Garrett Motion by 4.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,290,509 shares of the company’s stock valued at $10,802,000 after buying an additional 54,978 shares during the period. OMERS ADMINISTRATION Corp boosted its position in Garrett Motion by 296.5% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 253,150 shares of the company’s stock valued at $2,119,000 after buying an additional 189,300 shares during the period. Finally, Invesco Ltd. boosted its position in Garrett Motion by 138.0% during the 1st quarter. Invesco Ltd. now owns 162,991 shares of the company’s stock valued at $1,364,000 after buying an additional 94,501 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GTX. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Stifel Nicolaus initiated coverage on shares of Garrett Motion in a research note on Friday, September 19th. They issued a “buy” rating and a $17.50 price target for the company. BWS Financial lifted their price target on shares of Garrett Motion from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. BNP Paribas Exane started coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They set an “outperform” rating and a $14.00 target price for the company. Finally, BNP Paribas began coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, Garrett Motion presently has an average rating of “Buy” and an average target price of $16.50.

Garrett Motion Stock Performance

GTX stock opened at $13.03 on Thursday. Garrett Motion Inc. has a one year low of $7.01 and a one year high of $14.02. The company’s fifty day moving average price is $13.16 and its 200-day moving average price is $11.29. The company has a market capitalization of $2.63 billion, a PE ratio of 10.26 and a beta of 0.37.

Garrett Motion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. Garrett Motion’s payout ratio is 16.78%.

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $13.00, for a total transaction of $16,900,000.00. Following the sale, the insider owned 21,128,348 shares of the company’s stock, valued at $274,668,524. This represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Centerbridge Credit Partners M sold 9,000,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the sale, the insider directly owned 4,740,569 shares in the company, valued at approximately $58,166,781.63. The trade was a 65.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,821,340 shares of company stock worth $147,257,512 in the last three months. Insiders own 0.83% of the company’s stock.

Garrett Motion Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.