Segall Bryant & Hamill LLC Makes New Investment in Garrett Motion Inc. $GTX

Segall Bryant & Hamill LLC purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 51,851 shares of the company’s stock, valued at approximately $706,000.

Several other institutional investors and hedge funds have also made changes to their positions in GTX. Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion in the first quarter valued at approximately $42,000. Jane Street Group LLC grew its stake in Garrett Motion by 641.7% in the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after acquiring an additional 78,661 shares during the last quarter. Amalgamated Bank purchased a new stake in Garrett Motion in the 2nd quarter valued at approximately $46,000. Bank of Montreal Can lifted its holdings in Garrett Motion by 5.7% in the 2nd quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock valued at $610,000 after purchasing an additional 3,106 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Garrett Motion by 105.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,961 shares of the company’s stock valued at $6,537,000 after acquiring an additional 318,907 shares during the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $20.29, for a total transaction of $405,800.00. Following the transaction, the senior vice president directly owned 160,994 shares in the company, valued at $3,266,568.26. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the sale, the chief executive officer owned 905,546 shares of the company’s stock, valued at approximately $18,400,694.72. This trade represents a 13.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 337,000 shares of company stock valued at $6,839,290. Insiders own 0.83% of the company’s stock.

Garrett Motion Trading Down 2.2%

Shares of NYSE GTX opened at $18.46 on Friday. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $21.42. The firm has a 50-day moving average of $18.90 and a two-hundred day moving average of $16.37. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.54 and a beta of 0.31.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that Garrett Motion Inc. will post 1.25 earnings per share for the current year.

Garrett Motion announced that its board has authorized a share buyback plan on Wednesday, December 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Garrett Motion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, March 2nd. Garrett Motion’s payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GTX shares. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. JPMorgan Chase & Co. assumed coverage on Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price objective on the stock. Stifel Nicolaus raised their price objective on Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, BWS Financial lifted their target price on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Garrett Motion has a consensus rating of “Moderate Buy” and an average target price of $18.80.

About Garrett Motion

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.