Algert Global LLC Buys New Shares in Garrett Motion Inc. $GTX

Algert Global LLC 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 942,674 shares of the company’s stock, valued at approximately $12,839,000. Algert Global LLC owned about 0.48% of Garrett Motion at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GTX. Alliancebernstein L.P. lifted its stake in Garrett Motion by 5.2% in the third quarter. Alliancebernstein L.P. now owns 136,075 shares of the company’s stock valued at $1,853,000 after buying an additional 6,706 shares during the period. Apis Capital Advisors LLC grew its position in shares of Garrett Motion by 16.7% during the 3rd quarter. Apis Capital Advisors LLC now owns 140,000 shares of the company’s stock worth $1,907,000 after buying an additional 20,000 shares during the period. Creative Planning acquired a new stake in shares of Garrett Motion during the 3rd quarter worth approximately $154,000. Lazard Asset Management LLC bought a new stake in shares of Garrett Motion in the 3rd quarter valued at $1,751,000. Finally, Ritter Alpha LP acquired a new position in shares of Garrett Motion during the 3rd quarter valued at $188,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GTX. BWS Financial increased their target price on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. assumed coverage on shares of Garrett Motion in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target for the company. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Stifel Nicolaus increased their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Garrett Motion Price Performance

GTX opened at $17.59 on Monday. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $21.42. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 13.85 and a beta of 0.31. The firm’s fifty day moving average price is $18.95 and its two-hundred day moving average price is $16.58.

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

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.08 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.32 annualized dividend and a yield of 1.8%. Garrett Motion’s dividend payout ratio (DPR) is 21.05%.

Garrett Motion declared that its board has authorized a stock repurchase program on Wednesday, December 3rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total value of $337,620.00. Following the transaction, the director owned 50,233 shares of the company’s stock, valued at approximately $997,627.38. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Rabiller sold 144,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the transaction, the chief executive officer owned 905,546 shares of the company’s stock, valued at $18,400,694.72. This trade represents a 13.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 337,000 shares of company stock valued at $6,839,290 in the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

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.