Garrett Motion Inc. $GTX Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 279.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,089 shares of the company’s stock after acquiring an additional 123,736 shares during the quarter. SG Americas Securities LLC owned 0.09% of Garrett Motion worth $2,930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in Garrett Motion in the 2nd quarter worth about $45,000. Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion in the first quarter worth about $42,000. Blue Trust Inc. increased its position in shares of Garrett Motion by 254.7% in the third quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock worth $84,000 after acquiring an additional 4,445 shares in the last quarter. Corient IA LLC purchased a new position in shares of Garrett Motion in the third quarter worth approximately $136,000. Finally, Xponance Inc. acquired a new stake in shares of Garrett Motion during the third quarter valued at approximately $143,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Stock Performance

GTX stock opened at $18.41 on Friday. The stock has a market cap of $3.50 billion, a P/E ratio of 14.50 and a beta of 0.31. The firm has a 50 day simple moving average of $18.80 and a 200 day simple moving average of $17.03. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $21.42.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share 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%. Garrett Motion’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts predict 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 was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, March 2nd. Garrett Motion’s dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Garrett Motion

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the transaction, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the completion of the transaction, the senior vice president directly owned 160,994 shares in the company, valued at approximately $3,266,568.26. The trade was a 11.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 337,000 shares of company stock valued at $6,839,290. Insiders own 0.83% of the company’s stock.

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.