Axiom Investors LLC DE Acquires New Position in Garrett Motion Inc. $GTX

Axiom Investors LLC DE acquired a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the fourth quarter, Holdings Channel.com reports. The fund acquired 871,165 shares of the company’s stock, valued at approximately $15,184,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its position in Garrett Motion by 21.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 530,603 shares of the company’s stock valued at $9,248,000 after purchasing an additional 93,313 shares in the last quarter. JPMorgan Chase & Co. grew its position in Garrett Motion by 15.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,963,164 shares of the company’s stock valued at $34,218,000 after purchasing an additional 257,680 shares in the last quarter. Vestcor Inc grew its position in Garrett Motion by 145.5% during the fourth quarter. Vestcor Inc now owns 17,979 shares of the company’s stock valued at $313,000 after purchasing an additional 10,655 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Garrett Motion during the fourth quarter valued at approximately $457,000. Finally, Measured Wealth Private Client Group LLC grew its position in Garrett Motion by 150.7% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 34,956 shares of the company’s stock valued at $609,000 after purchasing an additional 21,010 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Stock Up 1.7%

GTX stock opened at $32.81 on Wednesday. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 1.01 and a beta of 0.79. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $34.34. The firm has a 50 day moving average of $25.65 and a two-hundred day moving average of $20.77.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 company had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid 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 payout ratio is presently 18.71%.

Insider Transactions at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the completion of the sale, the director directly owned 124,885 shares in the company, valued at approximately $3,898,909.70. The trade was a 12.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was 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. The trade was a 32.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 197,178 shares of company stock worth $6,358,597. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on GTX shares. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, May 21st. Stifel Nicolaus boosted their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings started coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. 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, the company presently has a consensus rating of “Moderate Buy” and an average 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.