Counterpoint Mutual Funds LLC Has $2.34 Million Stock Position in Garrett Motion Inc. $GTX

Counterpoint Mutual Funds LLC lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 323.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,018 shares of the company’s stock after acquiring an additional 131,380 shares during the period. Counterpoint Mutual Funds LLC owned approximately 0.09% of Garrett Motion worth $2,343,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GTX. Hillsdale Investment Management Inc. raised its stake in shares of Garrett Motion by 4.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 571,450 shares of the company’s stock valued at $7,783,000 after purchasing an additional 26,400 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Garrett Motion during the third quarter worth about $428,000. Jupiter Asset Management Ltd. acquired a new stake in Garrett Motion in the 3rd quarter valued at approximately $13,778,000. D Orazio & Associates Inc. lifted its stake in Garrett Motion by 7.2% in the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock valued at $206,000 after acquiring an additional 1,015 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in Garrett Motion during the 3rd quarter worth approximately $928,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Stock Performance

Garrett Motion stock opened at $19.28 on Tuesday. The stock has a 50-day simple moving average of $18.46 and a 200 day simple moving average of $15.98. The stock has a market capitalization of $3.75 billion, a P/E ratio of 15.18 and a beta of 0.33. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $21.42.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, February 19th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The business’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts forecast that Garrett Motion Inc. will post 1.25 earnings per share for the current year.

Garrett Motion announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. Garrett Motion’s payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. JPMorgan Chase & Co. started coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price for the company. BWS Financial lifted their price target on shares of Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Garrett Motion 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.