Bank of Montreal Can Has $610,000 Position in Garrett Motion Inc. $GTX

Bank of Montreal Can boosted its position in Garrett Motion Inc. (NYSE:GTX) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,021 shares of the company’s stock after purchasing an additional 3,106 shares during the quarter. Bank of Montreal Can’s holdings in Garrett Motion were worth $610,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GTX. Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion in the first quarter valued at about $42,000. Amalgamated Bank acquired a new stake in Garrett Motion in the 2nd quarter worth about $46,000. Caitong International Asset Management Co. Ltd raised its stake in Garrett Motion by 4,655.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock worth $47,000 after purchasing an additional 4,423 shares in the last quarter. Vestcor Inc bought a new stake in Garrett Motion in the 1st quarter valued at about $61,000. Finally, Deutsche Bank AG grew its position in shares of Garrett Motion by 14.4% during the 1st quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock worth $79,000 after purchasing an additional 1,181 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 2.3%

NYSE:GTX opened at $16.46 on Tuesday. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $17.91. The stock’s 50-day simple moving average is $14.57 and its 200 day simple moving average is $12.68. The firm has a market capitalization of $3.20 billion, a PE ratio of 12.96 and a beta of 0.41.

Garrett Motion (NYSE:GTX) last posted its earnings results on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. During the same period in the previous year, the company earned $0.24 earnings per share. Garrett Motion’s revenue for the quarter was up 9.2% compared to the same quarter last year. Garrett Motion has set its FY 2025 guidance at EPS. On average, analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Garrett Motion’s previous quarterly dividend of $0.06. Garrett Motion’s payout ratio is currently 20.38%.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the sale, the insider owned 20,009,945 shares of the company’s stock, valued at approximately $265,732,069.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,118,403 shares of company stock valued at $14,839,564 in the last quarter. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

GTX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Garrett Motion in a research report on Monday, October 20th. They issued a “hold” rating and a $14.00 price target for the company. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Stifel Nicolaus set a $20.00 target price on Garrett Motion in a report on Friday, October 24th. Finally, BWS Financial restated a “buy” rating and issued a $18.00 price target on shares of Garrett Motion in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $16.50.

Garrett Motion Company 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.