William Blair Investment Management LLC Makes New $117.13 Million Investment in Garrett Motion Inc. $GTX

William Blair Investment Management LLC purchased a new position in shares of Garrett Motion Inc. (NASDAQ:GTX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,232,883 shares of the company’s stock, valued at approximately $117,127,000. William Blair Investment Management LLC owned approximately 1.73% of Garrett Motion as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Persistent Asset Partners Ltd bought a new stake in Garrett Motion during the 2nd quarter worth $27,000. Cullen Frost Bankers Inc. raised its position in Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after purchasing an additional 1,422 shares during the last quarter. Global Retirement Partners LLC raised its position in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Garrett Motion during the second quarter valued at about $64,000. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Trading Up 0.8%

Shares of GTX stock opened at $26.62 on Friday. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.68 and a beta of 0.82. The stock has a 50-day moving average of $31.55 and a 200-day moving average of $26.00. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.Garrett Motion’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. Sell-side analysts forecast that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion’s dividend payout ratio (DPR) is presently 17.58%.

Analyst Ratings Changes

Several research firms have recently issued reports on GTX. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a report on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Insiders Place Their Bets

In other news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the transaction, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. The trade was a 32.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the transaction, the chief financial officer owned 261,909 shares in the company, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 196,656 shares of company stock worth $6,382,413. 1.10% of the stock is currently 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.