Rockefeller Capital Management L.P. Decreases Position in Garrett Motion Inc. $GTX

Rockefeller Capital Management L.P. reduced its stake in shares of Garrett Motion Inc. (NASDAQ:GTX) by 78.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,501 shares of the company’s stock after selling 242,328 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Garrett Motion were worth $1,159,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GTX. Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion during the first quarter valued at approximately $42,000. Jane Street Group LLC lifted its position in shares of Garrett Motion by 641.7% during the first quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock worth $761,000 after purchasing an additional 78,661 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $121,000. Legal & General Group Plc increased its stake in Garrett Motion by 30.4% during the second quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock valued at $1,024,000 after purchasing an additional 22,727 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Garrett Motion during the 2nd quarter valued at about $225,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Trading Down 7.3%

Shares of NASDAQ:GTX opened at $33.59 on Thursday. The firm’s 50 day moving average is $30.54 and its two-hundred day moving average is $22.75. The firm has a market capitalization of $6.29 billion, a P/E ratio of 19.64, a PEG ratio of 1.14 and a beta of 0.78. Garrett Motion Inc. has a 52 week low of $10.65 and a 52 week high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Garrett Motion’s dividend payout ratio is presently 18.71%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. BWS Financial boosted their price objective on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Stifel Nicolaus increased their target price on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. One equities research 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. According to MarketBeat.com, Garrett Motion presently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

Insiders Place Their Bets

In related news, CFO Sean Deason sold 110,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the transaction, the chief financial officer owned 261,909 shares in the company, valued at $8,362,754.37. This represents a 29.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12. Following the transaction, the senior vice president directly owned 83,178 shares in the company, valued at approximately $2,813,079.96. The trade was a 11.22% 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. In the last ninety days, insiders sold 213,834 shares of company stock worth $6,918,710. 1.10% of the stock is owned by company insiders.

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.