Private Advisor Group LLC Makes New $1.22 Million Investment in Garrett Motion Inc. $GTX

Private Advisor Group LLC purchased a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 67,233 shares of the company’s stock, valued at approximately $1,222,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Garrett Motion by 7,110.0% in 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 during the last quarter. Spire Wealth Management increased its holdings in Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after buying an additional 1,350 shares during the last quarter. Global Retirement Partners LLC raised its position in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares during the period. TD Waterhouse Canada Inc. raised its position in Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after acquiring an additional 1,593 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Garrett Motion by 361.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock worth $49,000 after acquiring an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

Shares of GTX stock opened at $32.30 on Monday. Garrett Motion Inc. has a one year low of $11.04 and a one year high of $36.25. The company’s fifty day moving average price is $32.19 and its 200-day moving average price is $23.50. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.01 and a beta of 0.78.

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

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.08 per share. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is currently 18.71%.

Analysts Set New Price Targets

GTX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. BWS Financial reissued a “buy” rating and set a $42.00 price target on shares of Garrett Motion in a report on Monday, July 6th. Finally, Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.83.

Insiders Place Their Bets

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $31.22, for a total transaction of $536,297.16. Following the sale, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. The trade was a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 213,834 shares of company stock worth $6,918,710. Company insiders own 1.10% of the company’s stock.

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.