477,398 Shares in Garrett Motion Inc. $GTX Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 477,398 shares of the company’s stock, valued at approximately $17,296,000. Public Employees Retirement System of Ohio owned approximately 0.26% of Garrett Motion at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new stake in Garrett Motion in the 1st quarter valued at $42,000. Jane Street Group LLC boosted its holdings in shares of Garrett Motion by 641.7% during the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after purchasing an additional 78,661 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Garrett Motion during the second quarter valued at about $121,000. Legal & General Group Plc grew its position in shares of Garrett Motion by 30.4% during the second quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock valued at $1,024,000 after purchasing an additional 22,727 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Garrett Motion in the second quarter worth about $225,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Insider Buying and Selling at Garrett Motion

In related news, CFO Sean Deason sold 110,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This represents a 29.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the transaction, the senior vice president owned 77,038 shares of the company’s stock, valued at $2,565,365.40. This trade represents a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 126,656 shares of company stock worth $4,072,413. Insiders own 1.10% of the company’s stock.

Garrett Motion Price Performance

Shares of GTX stock opened at $26.66 on Friday. Garrett Motion Inc. has a 1 year low of $12.26 and a 1 year high of $36.25. The stock’s 50 day simple moving average is $30.79 and its two-hundred day simple moving average is $26.28. The company has a market cap of $4.97 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The firm 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 for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Equities research analysts expect that Garrett Motion Inc. will post 1.91 EPS for the current year.

Garrett Motion Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on GTX. Weiss Ratings reissued a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Wall Street Zen downgraded Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. BWS Financial reaffirmed a “buy” rating and set a $42.00 price target on shares of Garrett Motion in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

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.