Brandywine Global Investment Management LLC Has $8.61 Million Holdings in Garrett Motion Inc. $GTX

Brandywine Global Investment Management LLC lessened its position in shares of Garrett Motion Inc. (NASDAQ:GTX) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 494,143 shares of the company’s stock after selling 17,815 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.25% of Garrett Motion worth $8,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares during the period. D Orazio & Associates Inc. increased its position in Garrett Motion by 7.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock valued at $206,000 after purchasing an additional 1,015 shares during the period. Spire Wealth Management increased its position in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares during the period. Cullen Frost Bankers Inc. increased its position in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after purchasing an additional 1,422 shares during the period. Finally, Baron Wealth Management LLC increased its position in Garrett Motion by 6.3% during the 4th quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock valued at $461,000 after purchasing an additional 1,570 shares during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Buying and Selling

In related news, CFO Sean Deason sold 110,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the transaction, the chief financial officer directly owned 261,909 shares in the company, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. The sale was disclosed in a document filed 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, Director Daniel A. Ninivaggi sold 17,178 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the completion of 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 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. Insiders have sold a total of 197,178 shares of company stock worth $6,358,597 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Garrett Motion Stock Performance

Garrett Motion stock opened at $32.81 on Wednesday. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.01 and a beta of 0.79. Garrett Motion Inc. has a 52-week low of $9.57 and a 52-week high of $34.34. The stock’s 50 day moving average price is $25.65 and its two-hundred day moving average price is $20.77.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion’s revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Garrett Motion’s dividend payout ratio (DPR) is currently 18.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GTX shares. BWS Financial increased their target price on shares of Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. Finally, Stifel Nicolaus increased their price target on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.83.

About Garrett Motion

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.