LSV Asset Management Has $108.68 Million Stock Holdings in Garrett Motion Inc. $GTX

LSV Asset Management boosted its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX) by 45.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,235,408 shares of the company’s stock after acquiring an additional 1,958,808 shares during the period. LSV Asset Management’s holdings in Garrett Motion were worth $108,683,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. William Blair Investment Management LLC raised its holdings in Garrett Motion by 51.0% during the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after buying an additional 2,605,296 shares during the last quarter. Vanguard Group Inc. raised its holdings in Garrett Motion by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company’s stock worth $77,120,000 after buying an additional 234,735 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Garrett Motion by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,186,089 shares of the company’s stock worth $43,390,000 after buying an additional 70,155 shares during the last quarter. Merewether Investment Management LP acquired a new position in Garrett Motion during the third quarter worth $40,590,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Garrett Motion during the third quarter worth $36,539,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Activity at Garrett Motion

In related news, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $20.29, for a total transaction of $405,800.00. Following the completion of the sale, the senior vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the sale, the director owned 124,885 shares of the company’s stock, valued at $3,898,909.70. This trade represents a 12.09% 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. Over the last three months, insiders have sold 354,178 shares of company stock worth $7,375,587. 1.10% of the stock is currently owned by corporate insiders.

Garrett Motion Price Performance

Shares of GTX stock opened at $33.29 on Friday. The firm has a 50-day moving average of $22.06 and a 200-day moving average of $19.43. The company has a market cap of $6.23 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.11 and a beta of 0.70. Garrett Motion Inc. has a one year low of $9.57 and a one year high of $34.34.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, research analysts expect that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Garrett Motion’s dividend payout ratio (DPR) is 18.71%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GTX shares. BWS Financial upped their price objective on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Freedom Capital downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, Stifel Nicolaus increased their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.83.

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.