Baker Ellis Asset Management LLC Reduces Stock Position in Garrett Motion Inc. $GTX

Baker Ellis Asset Management LLC decreased its stake in Garrett Motion Inc. (NYSE:GTX) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,205 shares of the company’s stock after selling 2,465 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Garrett Motion were worth $2,283,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Jane Street Group LLC boosted its stake in shares of Garrett Motion by 641.7% in the first quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock worth $761,000 after buying an additional 78,661 shares during the last quarter. Aristeia Capital L.L.C. purchased a new stake in shares of Garrett Motion in the first quarter worth about $151,000. Caxton Associates LLP purchased a new stake in shares of Garrett Motion in the first quarter worth about $331,000. Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion in the first quarter worth about $42,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Garrett Motion in the first quarter worth about $358,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Analyst Ratings Changes

GTX has been the topic of a number of recent research reports. BWS Financial restated a “buy” rating and issued a $14.00 target price on shares of Garrett Motion in a research note on Wednesday, June 25th. BNP Paribas Exane began coverage on Garrett Motion in a research report on Wednesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. BNP Paribas began coverage on Garrett Motion in a research report on Wednesday, July 16th. They set an “outperform” rating on the stock. Finally, Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Insider Activity at Garrett Motion

In related news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total value of $110,430,000.00. Following the completion of the sale, the insider owned 4,740,569 shares of the company’s stock, valued at approximately $58,166,781.63. This trade represents a 65.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $13.28, for a total value of $4,655,516.48. Following the completion of the sale, the insider directly owned 20,009,945 shares of the company’s stock, valued at approximately $265,732,069.60. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,520,627 shares of company stock valued at $165,408,993. Insiders own 0.83% of the company’s stock.

Garrett Motion Stock Performance

NYSE:GTX opened at $13.09 on Monday. Garrett Motion Inc. has a one year low of $7.01 and a one year high of $13.52. The stock has a market cap of $2.64 billion, a PE ratio of 10.31 and a beta of 0.27. The stock has a 50 day moving average price of $12.57 and a 200 day moving average price of $10.78.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. Garrett Motion’s dividend payout ratio (DPR) is currently 16.78%.

Garrett Motion Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.