Quantbot Technologies LP Sells 80,299 Shares of Garrett Motion Inc. $GTX

Quantbot Technologies LP cut its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 53.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,749 shares of the company’s stock after selling 80,299 shares during the period. Quantbot Technologies LP’s holdings in Garrett Motion were worth $964,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in Garrett Motion during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC purchased a new stake in Garrett Motion in the 2nd quarter worth approximately $45,000. Amalgamated Bank bought a new position in Garrett Motion in the 2nd quarter valued at $46,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Garrett Motion during the 2nd quarter valued at $61,000. Finally, Blue Trust Inc. grew its position in shares of Garrett Motion by 254.7% during the 3rd quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock valued at $84,000 after purchasing an additional 4,445 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Stock Performance

NYSE GTX opened at $18.46 on Friday. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $21.42. The company has a fifty day moving average of $18.90 and a 200-day moving average of $16.37. The company has a market capitalization of $3.51 billion, a P/E ratio of 14.54 and a beta of 0.31.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, February 19th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.Garrett Motion’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

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

Garrett Motion declared that its Board of Directors has approved a share repurchase program on Wednesday, December 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of Garrett Motion stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the transaction, the chief executive officer directly owned 905,546 shares of the company’s stock, valued at approximately $18,400,694.72. This trade represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julia Steyn sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders sold 337,000 shares of company stock worth $6,839,290 in the last quarter. 0.83% of the stock is owned by insiders.

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.