Strs Ohio Sells 20,900 Shares of Garrett Motion Inc. $GTX

Strs Ohio trimmed its stake in Garrett Motion Inc. (NASDAQ:GTX) by 72.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,800 shares of the company’s stock after selling 20,900 shares during the period. Strs Ohio’s holdings in Garrett Motion were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in GTX. Cullen Frost Bankers Inc. raised its stake in shares of Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after acquiring an additional 1,422 shares in the last quarter. Spire Wealth Management raised its position in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after purchasing an additional 1,350 shares in the last quarter. Global Retirement Partners LLC raised its position in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after buying an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in shares of Garrett Motion during the 1st quarter worth $42,000. 86.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. The trade was a 32.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 on Friday, June 12th. The stock was 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 in the company, valued at $2,813,079.96. This represents a 11.22% 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. In the last 90 days, insiders have sold 213,834 shares of company stock worth $6,918,710. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

GTX has been the topic of several research reports. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. Finally, Weiss Ratings assumed coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.83.

Garrett Motion Stock Performance

GTX opened at $32.30 on Monday. The firm has a market cap 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 Inc. has a 12 month low of $11.04 and a 12 month high of $36.25. The stock has a fifty day moving average price of $32.19 and a 200-day moving average price of $23.50.

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

Garrett Motion Announces Dividend

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

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.