Marnell Management LLC Buys New Stake in Garrett Motion Inc. $GTX

Marnell Management LLC bought a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 225,971 shares of the company’s stock, valued at approximately $3,939,000. Garrett Motion makes up 1.9% of Marnell Management LLC’s portfolio, making the stock its 14th biggest position. Marnell Management LLC owned about 0.12% of Garrett Motion as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GTX. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Garrett Motion during the 4th quarter valued at $180,383,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Garrett Motion by 170.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after acquiring an additional 3,241,952 shares in the last quarter. Merewether Investment Management LP acquired a new position in shares of Garrett Motion during the 3rd quarter valued at $40,590,000. BlueCrest Capital Management Ltd acquired a new position in shares of Garrett Motion during the 3rd quarter valued at $36,539,000. Finally, William Blair Investment Management LLC lifted its holdings in shares of Garrett Motion by 51.0% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Activity at Garrett Motion

In related news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the sale, the senior vice president owned 147,956 shares of the company’s stock, valued at $4,882,548. This represents a 32.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. This represents a 29.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 197,178 shares of company stock valued at $6,358,597 in the last quarter. Insiders own 1.10% of the company’s stock.

Garrett Motion Price Performance

Shares of NASDAQ:GTX opened at $33.56 on Monday. Garrett Motion Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $34.42. The firm has a 50-day simple moving average of $26.55 and a 200 day simple moving average of $21.12. The company has a market cap of $6.28 billion, a PE ratio of 19.63, a P/E/G ratio of 1.05 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating 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 business had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. The company’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, research analysts forecast 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 will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Garrett Motion’s dividend payout ratio is currently 18.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GTX shares. JPMorgan Chase & Co. lifted their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a report on Thursday, May 21st. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Stifel Nicolaus boosted their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

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.