Lazard Asset Management LLC lifted its stake in Garrett Motion Inc. (NASDAQ:GTX – Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,671 shares of the company’s stock after buying an additional 18,385 shares during the period. Lazard Asset Management LLC’s holdings in Garrett Motion were worth $4,482,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter valued at about $180,383,000. Arrowstreet Capital Limited Partnership lifted its position in Garrett Motion by 170.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after acquiring an additional 3,241,952 shares in the last quarter. Merewether Investment Management LP acquired a new position in Garrett Motion during the 3rd quarter worth approximately $40,590,000. BlueCrest Capital Management Ltd purchased a new position in Garrett Motion in the 3rd quarter worth approximately $36,539,000. Finally, Apis Capital Advisors LLC boosted its holdings in Garrett Motion by 1,492.9% in the 4th quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company’s stock worth $38,869,000 after acquiring an additional 2,090,000 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.
Garrett Motion Price Performance
GTX stock opened at $31.15 on Friday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 0.92 and a beta of 0.78. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25. The firm has a fifty day moving average price of $32.66 and a two-hundred day moving average price of $24.88.
Garrett Motion Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is currently 17.58%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on GTX shares. JPMorgan Chase & Co. lifted their price objective on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Stifel Nicolaus upped their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and raised their price target for the company from $33.00 to $36.00 in a report on Thursday. Freedom Capital downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.80.
Read Our Latest Stock Report on Garrett Motion
Insider Activity
In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the business’s stock in a transaction dated 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 directly owned 77,038 shares of the company’s stock, valued at $2,565,365.40. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 213,834 shares of company stock valued at $6,918,710. 1.10% of the stock is owned by company insiders.
Garrett Motion 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.
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