Garrett Motion Inc. $GTX Shares Purchased by Cambria Investment Management L.P.

Cambria Investment Management L.P. grew its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 1,502.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 739,593 shares of the company’s stock after buying an additional 693,445 shares during the period. Cambria Investment Management L.P. owned 0.38% of Garrett Motion worth $10,073,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC boosted its stake in shares of Garrett Motion by 51.0% during the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after acquiring an additional 2,605,296 shares during the last quarter. LSV Asset Management acquired a new position in Garrett Motion in the 3rd quarter valued at about $58,247,000. Vanguard Group Inc. raised its stake in Garrett Motion by 40.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,189,811 shares of the company’s stock valued at $57,065,000 after purchasing an additional 1,205,549 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Garrett Motion by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,186,089 shares of the company’s stock valued at $43,390,000 after purchasing an additional 70,155 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Garrett Motion by 92.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,053,869 shares of the company’s stock valued at $32,100,000 after purchasing an additional 1,466,048 shares in the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Garrett Motion

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction of $337,620.00. Following the transaction, the director owned 50,233 shares of the company’s stock, valued at $997,627.38. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Rabiller sold 144,000 shares of Garrett Motion stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the transaction, the chief executive officer owned 905,546 shares in the company, valued at approximately $18,400,694.72. This trade represents a 13.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 337,000 shares of company stock worth $6,839,290. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BWS Financial lifted their price target on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. JPMorgan Chase & Co. assumed coverage on shares of Garrett Motion in a research note on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price objective on the stock. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Stifel Nicolaus lifted their target price on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Garrett Motion has an average rating of “Moderate Buy” and an average target price of $18.80.

Garrett Motion Trading Down 1.0%

NYSE GTX opened at $17.33 on Thursday. The business’s 50-day moving average price is $18.92 and its 200 day moving average price is $16.65. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $21.42. The company has a market capitalization of $3.29 billion, a PE ratio of 13.65 and a beta of 0.31.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The firm’s revenue was up 5.6% on a year-over-year basis. Equities analysts predict that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 3rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. Garrett Motion’s dividend payout ratio (DPR) is currently 21.05%.

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.