Garrett Motion Inc. $GTX Stock: Robeco Institutional Asset Management B.V. Trims Stake

Robeco Institutional Asset Management B.V. trimmed its position in shares of Garrett Motion Inc. (NASDAQ:GTX) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 595,454 shares of the company’s stock after selling 35,660 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.32% of Garrett Motion worth $15,500,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Garrett Motion in the second quarter valued at approximately $461,794,000. Dimensional Fund Advisors LP increased its position in shares of Garrett Motion by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,504,855 shares of the company’s stock worth $63,677,000 after purchasing an additional 237,508 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Garrett Motion during the second quarter worth $117,127,000. Copeland Capital Management LLC lifted its holdings in shares of Garrett Motion by 302.7% during the 3rd quarter. Copeland Capital Management LLC now owns 2,227,662 shares of the company’s stock valued at $57,986,000 after purchasing an additional 1,674,435 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Garrett Motion by 367.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,190,064 shares of the company’s stock valued at $57,007,000 after purchasing an additional 1,721,418 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Weiss Ratings lowered Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. BWS Financial reissued a “buy” rating and issued a $42.00 price target on shares of Garrett Motion in a report on Thursday, October 8th. Finally, Wall Street Zen lowered Garrett Motion from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.20.

Insider Activity

In other Garrett Motion news, SVP Daniel Deiro sold 30,000 shares of Garrett Motion stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the completion of the transaction, the senior vice president owned 133,783 shares in the company, valued at approximately $3,572,006.10. This trade represents a 18.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Garrett Motion Stock Performance

Shares of GTX opened at $21.55 on Friday. The stock has a 50-day moving average of $26.11 and a two-hundred day moving average of $28.23. Garrett Motion Inc. has a one year low of $15.09 and a one year high of $36.25. The stock has a market cap of $4.02 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.66 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX) last released 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. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%. The firm had revenue of $976.00 million during the quarter. During the same period last year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts predict that Garrett Motion Inc. will post 1.88 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is 17.58%.

Garrett Motion Company Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.