Garrett Motion Inc. $GTX Shares Bought by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. raised its holdings in Garrett Motion Inc. (NASDAQ:GTX) by 105.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 471,640 shares of the company’s stock after purchasing an additional 242,427 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Garrett Motion were worth $12,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Garrett Motion during the 2nd quarter worth approximately $461,794,000. Dimensional Fund Advisors LP lifted its holdings in shares of Garrett Motion by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,504,855 shares of the company’s stock valued at $63,677,000 after buying an additional 237,508 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $117,127,000. Copeland Capital Management LLC lifted its holdings in shares of Garrett Motion by 302.7% in the 3rd quarter. Copeland Capital Management LLC now owns 2,227,662 shares of the company’s stock valued at $57,986,000 after buying an additional 1,674,435 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Garrett Motion by 367.3% in the third quarter. Assenagon Asset Management S.A. now owns 2,190,064 shares of the company’s stock valued at $57,007,000 after buying an additional 1,721,418 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Stock Down 2.9%

Shares of Garrett Motion stock traded down $0.62 on Friday, hitting $20.88. The company’s stock had a trading volume of 2,106,696 shares, compared to its average volume of 4,442,903. The company has a market capitalization of $3.85 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. Garrett Motion Inc. has a 52-week low of $15.54 and a 52-week high of $36.25. The firm has a fifty day moving average price of $24.29 and a 200-day moving average price of $25.44.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Thursday, October 29th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Garrett Motion had a net margin of 9.97% and a negative return on equity of 52.43%. The firm had revenue of $930.00 million during the quarter. During the same quarter last year, the business posted $0.38 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that Garrett Motion Inc. will post 1.88 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, December 1st. Garrett Motion’s dividend payout ratio is 16.41%.

Insider Activity

In other news, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total value of $537,800.00. Following the sale, the senior vice president directly owned 113,783 shares in the company, valued at $3,059,624.87. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GTX. Weiss Ratings downgraded Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Freedom Broker upgraded Garrett Motion from a “hold” rating to a “buy” rating and cut their price objective for the stock from $34.00 to $31.00 in a research report on Friday, October 30th. Deutsche Bank upgraded Garrett Motion from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Wall Street Zen downgraded Garrett Motion from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Finally, Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

About Garrett Motion

Garrett Motion designs and manufactures automotive technologies focused on improving vehicle performance, fuel efficiency and emissions. Its products include turbochargers for passenger vehicles and commercial vehicles, along with electric boosting technologies that support conventional, hybrid and electric powertrains. The company also develops technologies for zero-emission applications, including compressors for hydrogen fuel-cell systems. Its products and engineering services are used by automakers and commercial-vehicle manufacturers around the world.