Segall Bryant & Hamill LLC Sells 108,716 Shares of Garrett Motion Inc. $GTX

Segall Bryant & Hamill LLC reduced its holdings in shares of Garrett Motion Inc. (NASDAQ:GTX) by 49.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,338 shares of the company’s stock after selling 108,716 shares during the period. Segall Bryant & Hamill LLC’s holdings in Garrett Motion were worth $2,059,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Comerica Bank grew its stake in shares of Garrett Motion by 22.0% in the 4th quarter. Comerica Bank now owns 251,371 shares of the company’s stock worth $4,381,000 after buying an additional 45,370 shares during the last quarter. Wesbanco Bank Inc. raised its stake in Garrett Motion by 75.0% during the fourth quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock valued at $1,831,000 after buying an additional 45,000 shares during the last quarter. Smead Capital Management Inc. purchased a new position in Garrett Motion during the fourth quarter valued at $4,257,000. Norges Bank bought a new stake in Garrett Motion in the fourth quarter worth $29,237,000. Finally, Carmel Capital Management L.L.C. bought a new stake in Garrett Motion in the first quarter worth $5,719,000. Institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GTX. Freedom Capital cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Stifel Nicolaus upped their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and raised their price objective for the company from $33.00 to $36.00 in a research note on Thursday, July 30th. Five 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 has a consensus rating of “Moderate Buy” and an average target price of $37.80.

Garrett Motion Price Performance

Shares of NASDAQ:GTX opened at $31.43 on Wednesday. Garrett Motion Inc. has a 1 year low of $12.26 and a 1 year high of $36.25. The company has a market cap of $5.86 billion, a P/E ratio of 17.27, a PEG ratio of 0.81 and a beta of 0.82. The stock’s fifty day moving average price is $32.55 and its 200-day moving average price is $25.09.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The company had revenue of $976.00 million during the quarter. During the same quarter in the previous year, the business posted $0.42 earnings per share. Garrett Motion’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Garrett Motion Inc. will post 1.86 earnings per share for the current year.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Garrett Motion’s payout ratio is currently 17.58%.

Insider Activity at Garrett Motion

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 transaction of $2,310,000.00. Following the completion of the transaction, the senior vice president directly owned 147,956 shares of the company’s stock, valued at $4,882,548. The trade was a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total transaction of $204,462.00. Following the transaction, the senior vice president owned 77,038 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 213,834 shares of company stock valued at $6,918,710. Insiders own 1.10% of the company’s stock.

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.