Garrett Motion Inc. $GTX is Four Tree Island Advisory LLC’s 9th Largest Position

Four Tree Island Advisory LLC increased its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,931 shares of the company’s stock after acquiring an additional 64,445 shares during the period. Garrett Motion makes up 4.4% of Four Tree Island Advisory LLC’s investment portfolio, making the stock its 9th largest holding. Four Tree Island Advisory LLC owned about 0.25% of Garrett Motion worth $6,873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GTX. LSV Asset Management bought a new stake in shares of Garrett Motion in the 3rd quarter worth approximately $58,247,000. Geode Capital Management LLC boosted its holdings in Garrett Motion by 92.3% in 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 in the last quarter. Marshall Wace LLP grew its stake in shares of Garrett Motion by 103.4% in the second quarter. Marshall Wace LLP now owns 1,846,068 shares of the company’s stock worth $19,402,000 after acquiring an additional 938,312 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. increased its holdings in shares of 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 acquiring an additional 791,177 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in shares of Garrett Motion in the 3rd quarter worth about $10,705,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

NYSE GTX opened at $21.25 on Friday. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 16.73 and a beta of 0.33. Garrett Motion Inc. has a 1-year low of $7.01 and a 1-year high of $21.42. The business’s fifty day moving average price is $18.08 and its 200-day moving average price is $15.66.

Garrett Motion announced that its Board of Directors has approved a share buyback plan on Wednesday, December 3rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GTX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Garrett Motion in a research report on Monday, October 20th. They set a “hold” rating and a $14.00 price objective on the stock. BWS Financial increased their price target on shares of Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. JPMorgan Chase & Co. assumed coverage on Garrett Motion in a research note on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.80.

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.