UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Garrett Motion Inc. (NASDAQ:GTX – Free Report) by 54.3% during the second quarter, Holdings Channel reports. The fund owned 398,397 shares of the company’s stock after acquiring an additional 140,254 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Garrett Motion were worth $14,434,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Convergence Investment Partners LLC grew its stake in shares of Garrett Motion by 0.9% during the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after purchasing an additional 423 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Garrett Motion by 22.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after buying an additional 629 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Garrett Motion in the 2nd quarter valued at $27,000. Baron Wealth Management LLC increased its stake in shares of Garrett Motion by 3.3% in the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after buying an additional 878 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares during the last quarter. 86.27% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Stifel Nicolaus raised 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. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, May 21st. BWS Financial reissued a “buy” rating and set a $42.00 price target on shares of Garrett Motion in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Garrett Motion presently has an average rating of “Moderate Buy” and an average target price of $38.60.
Insider Buying and Selling at Garrett Motion
In related news, SVP Daniel Deiro sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total value of $801,000.00. Following the completion of the sale, the senior vice president owned 133,783 shares in the company, valued at $3,572,006.10. This represents a 18.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Rodrigues sold 10,516 shares of Garrett Motion stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the transaction, the senior vice president owned 83,178 shares in the company, valued at approximately $2,813,079.96. This represents a 11.22% 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 66,656 shares of company stock valued at $1,898,913 in the last three months. 1.10% of the stock is owned by company insiders.
Garrett Motion Trading Up 2.3%
Shares of GTX opened at $27.97 on Friday. Garrett Motion Inc. has a 1 year low of $12.26 and a 1 year high of $36.25. The stock has a market cap of $5.22 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.72 and a beta of 0.79. The stock’s 50-day moving average price is $30.08 and its two-hundred day moving average price is $26.52.
Garrett Motion (NASDAQ:GTX – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. As a group, equities analysts forecast that Garrett Motion Inc. will post 1.91 EPS for the current year.
Garrett Motion Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.1%. Garrett Motion’s dividend payout ratio (DPR) is 17.58%.
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.
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