Brandywine Global Investment Management LLC cut its stake in shares of Garrett Motion Inc. (NASDAQ:GTX – Free Report) by 3.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 494,143 shares of the company’s stock after selling 17,815 shares during the period. Brandywine Global Investment Management LLC’s holdings in Garrett Motion were worth $8,613,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Global Retirement Partners LLC lifted its stake in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 970 shares in the last quarter. D Orazio & Associates Inc. lifted its stake in Garrett Motion by 7.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock valued at $206,000 after acquiring an additional 1,015 shares in the last quarter. Spire Wealth Management lifted its stake in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after acquiring an additional 1,350 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after acquiring an additional 1,422 shares in the last quarter. Finally, Baron Wealth Management LLC lifted its stake in Garrett Motion by 6.3% during the 4th quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock valued at $461,000 after acquiring an additional 1,570 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the sale, the director directly owned 124,885 shares of the company’s stock, valued at approximately $3,898,909.70. This represents a 12.09% decrease in their ownership of the stock. 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. Insiders sold a total of 197,178 shares of company stock valued at $6,358,597 in the last ninety days. 1.10% of the stock is currently owned by insiders.
Analyst Ratings Changes
View Our Latest Analysis on GTX
Garrett Motion Price Performance
Shares of Garrett Motion stock opened at $32.81 on Wednesday. Garrett Motion Inc. has a 1 year low of $9.57 and a 1 year high of $34.34. The firm has a market cap of $6.14 billion, a PE ratio of 19.19, a P/E/G ratio of 1.01 and a beta of 0.79. The stock has a fifty day moving average price of $25.65 and a 200-day moving average price of $20.77.
Garrett Motion (NASDAQ:GTX – Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts anticipate that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.
Garrett Motion Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is currently 18.71%.
About Garrett Motion
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.
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