Grantham Mayo Van Otterloo & Co. LLC Invests $532,000 in Garrett Motion Inc. $GTX

Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 39,085 shares of the company’s stock, valued at approximately $532,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in Garrett Motion during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC purchased a new position in shares of Garrett Motion in the 2nd quarter valued at approximately $45,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Garrett Motion in the second quarter valued at approximately $61,000. Blue Trust Inc. increased its holdings 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 valued at $84,000 after purchasing an additional 4,445 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of Garrett Motion during the second quarter worth approximately $121,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Trading Down 0.7%

NYSE GTX opened at $18.11 on Thursday. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 14.26 and a beta of 0.31. The business’s 50 day moving average is $18.94 and its two-hundred day moving average is $16.50. Garrett Motion Inc. has a 12-month low of $7.01 and a 12-month high of $21.42.

Garrett Motion (NYSE:GTX) last posted its quarterly 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 negative return on equity of 38.75% and a net margin of 8.12%.The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts forecast that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in outstanding 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 management believes its stock is undervalued.

Garrett Motion Announces Dividend

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

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 905,546 shares in the company, valued at approximately $18,400,694.72. The trade was a 13.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total transaction of $405,800.00. Following the transaction, the senior vice president directly owned 160,994 shares in the company, valued at approximately $3,266,568.26. This trade represents a 11.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 337,000 shares of company stock valued at $6,839,290. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on GTX. BWS Financial increased their price target on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. 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 on the stock. Stifel Nicolaus upped 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. Finally, Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Garrett Motion 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.