Robeco Institutional Asset Management B.V. Buys New Stake in Garrett Motion Inc. $GTX

Robeco Institutional Asset Management B.V. purchased a new stake in shares of Garrett Motion Inc. (NYSE:GTX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 435,025 shares of the company’s stock, valued at approximately $5,925,000. Robeco Institutional Asset Management B.V. owned approximately 0.22% of Garrett Motion as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC increased its holdings in shares of Garrett Motion by 2.6% in the 2nd quarter. William Blair Investment Management LLC now owns 5,110,528 shares of the company’s stock worth $53,712,000 after buying an additional 128,479 shares during the last quarter. Geode Capital Management LLC increased its stake in Garrett Motion by 92.3% during the second quarter. Geode Capital Management LLC now owns 3,053,869 shares of the company’s stock worth $32,100,000 after acquiring an additional 1,466,048 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. raised its position in Garrett Motion by 37.1% during the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,925,770 shares of the company’s stock valued at $30,750,000 after purchasing an additional 791,177 shares during the period. Marshall Wace LLP lifted its stake in shares of Garrett Motion by 103.4% in the 2nd quarter. Marshall Wace LLP now owns 1,846,068 shares of the company’s stock valued at $19,402,000 after purchasing an additional 938,312 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Garrett Motion by 2.6% in the 2nd quarter. Loomis Sayles & Co. L P now owns 1,619,180 shares of the company’s stock valued at $17,018,000 after purchasing an additional 41,214 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

Shares of GTX opened at $18.16 on Friday. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 14.30 and a beta of 0.25. Garrett Motion Inc. has a 1-year low of $7.01 and a 1-year high of $18.42. The company has a 50-day moving average of $17.07 and a 200 day moving average of $14.36.

Garrett Motion (NYSE:GTX) last issued 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%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. On average, equities analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

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

Garrett Motion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.08 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. This is a positive change from Garrett Motion’s previous quarterly dividend of $0.06. Garrett Motion’s dividend payout ratio (DPR) is currently 20.38%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GTX shares. JPMorgan Chase & Co. assumed coverage on Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Garrett Motion in a research note on Monday, October 20th. They issued a “hold” rating and a $14.00 target price on the stock. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. BWS Financial increased their price objective on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Stifel Nicolaus boosted their target price on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

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.