Orchard Capital Management LLC Takes Position in Garrett Motion Inc. $GTX

Orchard Capital Management LLC bought a new stake in Garrett Motion Inc. (NASDAQ:GTXFree Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 101,167 shares of the company’s stock, valued at approximately $3,665,000. Garrett Motion makes up 3.6% of Orchard Capital Management LLC’s portfolio, making the stock its 9th largest holding.

Several other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its stake in Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after buying an additional 1,422 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Garrett Motion during the second quarter valued at approximately $27,000. Global Retirement Partners LLC raised its holdings in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after buying an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the first quarter valued at $42,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GTX. BWS Financial reiterated a “buy” rating and set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, July 30th. Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. upped their price target on shares of Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a report on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

View Our Latest Report on GTX

Garrett Motion Price Performance

GTX opened at $26.62 on Friday. The firm has a 50 day simple moving average of $31.55 and a 200 day simple moving average of $26.00. Garrett Motion Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82.

Garrett Motion (NASDAQ:GTXGet Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. Garrett Motion’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. As a group, analysts expect that Garrett Motion Inc. will post 1.91 EPS for the current year.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Garrett Motion’s payout ratio is 17.58%.

Insider Activity at Garrett Motion

In other news, CFO Sean Deason sold 110,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 261,909 shares in the company, valued at approximately $8,362,754.37. The trade was a 29.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the sale, the senior vice president directly owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. This trade represents a 32.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 196,656 shares of company stock worth $6,382,413. 1.10% of the stock is owned by insiders.

About Garrett Motion

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Garrett Motion (NASDAQ:GTX)

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