Fairfax Financial Holdings Ltd. Can Reduces Holdings in Garrett Motion Inc. $GTX

Fairfax Financial Holdings Ltd. Can cut its position in Garrett Motion Inc. (NASDAQ:GTX) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 260,460 shares of the company’s stock after selling 41,400 shares during the quarter. Garrett Motion accounts for 0.2% of Fairfax Financial Holdings Ltd. Can’s portfolio, making the stock its 20th largest position. Fairfax Financial Holdings Ltd. Can owned 0.13% of Garrett Motion worth $4,540,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GTX. JPMorgan Chase & Co. grew its stake in shares of Garrett Motion by 45.1% during the third quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company’s stock valued at $23,229,000 after acquiring an additional 529,949 shares in the last quarter. Comerica Bank lifted its stake in shares of Garrett Motion by 22.0% in the fourth quarter. Comerica Bank now owns 251,371 shares of the company’s stock worth $4,381,000 after acquiring an additional 45,370 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Garrett Motion by 75.0% in the fourth quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock worth $1,831,000 after acquiring an additional 45,000 shares in the last quarter. Yorkville Advisors Global LP purchased a new position in Garrett Motion in the third quarter valued at about $11,168,000. Finally, Counterpoint Mutual Funds LLC boosted its holdings in Garrett Motion by 323.3% in the third quarter. Counterpoint Mutual Funds LLC now owns 172,018 shares of the company’s stock valued at $2,343,000 after purchasing an additional 131,380 shares during the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Stock Up 1.4%

Shares of NASDAQ GTX opened at $34.61 on Wednesday. The stock’s 50 day moving average price is $27.19 and its two-hundred day moving average price is $21.38. Garrett Motion Inc. has a 52-week low of $9.57 and a 52-week high of $35.06. The stock has a market capitalization of $6.48 billion, a P/E ratio of 20.24, a PEG ratio of 1.07 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last issued 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 negative return on equity of 42.77% and a net margin of 9.29%.The company had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. The company’s revenue was up 12.2% on a year-over-year basis. On average, analysts anticipate that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion’s payout ratio is currently 18.71%.

Insider Buying and Selling at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the transaction, the director directly owned 124,885 shares in the company, valued at approximately $3,898,909.70. This trade represents a 12.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of Garrett Motion 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 completion of the transaction, the senior vice president directly owned 83,178 shares of the company’s stock, valued at $2,813,079.96. This trade represents a 11.22% 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. In the last three months, insiders sold 207,694 shares of company stock worth $6,714,248. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GTX shares. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings began coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They set a “buy (b)” rating for the company. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research note on Thursday, May 21st. Stifel Nicolaus upped their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average 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.