Tudor Investment Corp ET AL Has $702,000 Stock Position in Garrett Motion Inc. $GTX

Tudor Investment Corp ET AL lessened its holdings in Garrett Motion Inc. (NYSE:GTX) by 87.9% during the third quarter, HoldingsChannel reports. The fund owned 51,568 shares of the company’s stock after selling 373,487 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Garrett Motion were worth $702,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in Garrett Motion during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC bought a new position in Garrett Motion during the 2nd quarter valued at $45,000. Skandinaviska Enskilda Banken AB publ purchased a new position in Garrett Motion during the 2nd quarter worth $61,000. Blue Trust Inc. grew its stake in shares of Garrett Motion by 254.7% in the 3rd quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock worth $84,000 after acquiring an additional 4,445 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Garrett Motion in the second quarter valued at about $121,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Stock Up 3.8%

Shares of NYSE:GTX opened at $18.17 on Wednesday. The company has a 50-day moving average price of $18.79 and a two-hundred day moving average price of $16.97. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $21.42. The firm has a market capitalization of $3.45 billion, a PE ratio of 14.31 and a beta of 0.31.

Garrett Motion (NYSE:GTX) last announced its quarterly 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 net margin of 8.12% and a negative return on equity of 38.75%. The business’s revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion announced that its board has authorized a share buyback plan on Wednesday, December 3rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Garrett Motion Dividend Announcement

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

Insider Buying and Selling at Garrett Motion

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 completion of the sale, the chief executive officer directly owned 905,546 shares in the company, valued at $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julia Steyn sold 17,000 shares of the stock in a transaction 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 transaction, the director directly owned 50,233 shares in the company, valued at $997,627.38. The trade was a 25.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 337,000 shares of company stock valued at $6,839,290 in the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GTX shares. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. BWS Financial upped their price objective on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. initiated coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Four equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

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.