25,925 Garrett Motion Inc. $GTX Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in Garrett Motion Inc. (NASDAQ:GTX) by 202.5% during the 3rd quarter, Holdings Channel reports. The firm owned 38,725 shares of the company’s stock after acquiring an additional 25,925 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Garrett Motion were worth $1,008,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Garrett Motion by 23.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 42,100 shares of the company’s stock valued at $1,096,000 after buying an additional 8,000 shares during the period. Tectonic Advisors LLC boosted its holdings in Garrett Motion by 17.3% during the third quarter. Tectonic Advisors LLC now owns 89,639 shares of the company’s stock worth $2,333,000 after buying an additional 13,207 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Garrett Motion during the 3rd quarter worth about $32,000. Nisa Investment Advisors LLC grew its position in shares of Garrett Motion by 125.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 13,970 shares of the company’s stock worth $364,000 after buying an additional 7,774 shares during the period. Finally, CWA Asset Management Group LLC increased its stake in shares of Garrett Motion by 9.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 116,820 shares of the company’s stock valued at $3,041,000 after acquiring an additional 10,197 shares during the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GTX. Weiss Ratings downgraded shares of Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 15th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Wall Street Zen downgraded shares of Garrett Motion from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Finally, BWS Financial reiterated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a report on Thursday, October 8th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity

In related news, SVP Daniel Deiro sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total value of $801,000.00. Following the completion of the transaction, the senior vice president directly owned 133,783 shares in the company, valued at approximately $3,572,006.10. The trade was a 18.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Garrett Motion Trading Up 4.0%

Shares of Garrett Motion stock opened at $20.13 on Friday. The stock’s fifty day simple moving average is $24.88 and its 200 day simple moving average is $25.37. The company has a market capitalization of $3.72 billion, a PE ratio of 10.32, a PEG ratio of 0.57 and a beta of 0.95. Garrett Motion Inc. has a 12 month low of $15.54 and a 12 month high of $36.25.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Garrett Motion had a negative return on equity of 52.43% and a net margin of 9.97%. The firm had revenue of $930.00 million during the quarter. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. Analysts predict that Garrett Motion Inc. will post 1.88 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, December 1st. Garrett Motion’s payout ratio is 16.41%.

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.