Fairfax Financial Holdings Ltd. Can decreased its stake in Garrett Motion Inc. (NASDAQ:GTX – Free Report) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,460 shares of the company’s stock after selling 41,400 shares during the period. Garrett Motion accounts for 0.2% of Fairfax Financial Holdings Ltd. Can’s portfolio, making the stock its 20th largest position. Fairfax Financial Holdings Ltd. Can’s holdings in Garrett Motion were worth $4,540,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Graham Capital Management L.P. increased its position in Garrett Motion by 63.6% in the fourth quarter. Graham Capital Management L.P. now owns 55,437 shares of the company’s stock worth $966,000 after buying an additional 21,554 shares during the period. Magnetar Financial LLC bought a new stake in Garrett Motion in the fourth quarter valued at $252,000. Squarepoint Ops LLC boosted its holdings in shares of Garrett Motion by 26.8% during the fourth quarter. Squarepoint Ops LLC now owns 563,910 shares of the company’s stock valued at $9,829,000 after acquiring an additional 119,291 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Garrett Motion during the fourth quarter worth about $2,446,000. Finally, Mariner LLC grew its position in shares of Garrett Motion by 192.1% during the fourth quarter. Mariner LLC now owns 60,590 shares of the company’s stock worth $1,056,000 after acquiring an additional 39,847 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.
Insiders Place Their Bets
In other Garrett Motion news, Director Daniel A. Ninivaggi sold 17,178 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. This represents a 12.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 207,694 shares of company stock valued at $6,714,248. 1.10% of the stock is owned by insiders.
Garrett Motion Price Performance
Garrett Motion (NASDAQ:GTX – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.
Garrett Motion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.08 per share. The ex-dividend date was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Weiss Ratings initiated coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. Finally, BWS Financial raised their target price on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Garrett Motion has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.
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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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