O Shaughnessy Asset Management LLC Buys 93,313 Shares of Garrett Motion Inc. $GTX

O Shaughnessy Asset Management LLC increased its stake in shares of Garrett Motion Inc. (NASDAQ:GTX) by 21.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 530,603 shares of the company’s stock after acquiring an additional 93,313 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Garrett Motion were worth $9,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Garrett Motion by 45.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company’s stock worth $23,229,000 after buying an additional 529,949 shares during the period. Comerica Bank lifted its position in shares of Garrett Motion by 22.0% during the 4th quarter. Comerica Bank now owns 251,371 shares of the company’s stock worth $4,381,000 after buying an additional 45,370 shares during the period. Wesbanco Bank Inc. lifted its position in shares of Garrett Motion by 75.0% during the 4th quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock worth $1,831,000 after buying an additional 45,000 shares during the period. Yorkville Advisors Global LP bought a new position in shares of Garrett Motion during the 3rd quarter worth approximately $11,168,000. Finally, Leuthold Group LLC bought a new position in Garrett Motion in the 3rd quarter valued at $3,331,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 2.5%

GTX stock opened at $31.98 on Thursday. The company has a market cap of $5.99 billion, a P/E ratio of 18.70, a PEG ratio of 1.03 and a beta of 0.79. Garrett Motion Inc. has a twelve month low of $9.57 and a twelve month high of $34.34. The business has a fifty day moving average of $25.94 and a 200-day moving average of $20.88.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date is 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%.

Insider Transactions at Garrett Motion

In other news, CFO Sean Deason sold 110,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the sale, the chief financial officer owned 261,909 shares in the company, valued at $8,362,754.37. The trade was a 29.58% decrease in their ownership of the stock. 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 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 value of $2,310,000.00. Following the sale, the senior vice president owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. The trade was a 32.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 197,178 shares of company stock worth $6,358,597 over the last 90 days. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GTX. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research report on Thursday, May 21st. BWS Financial lifted their price objective on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. Finally, Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. One investment 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’s stock. Based on data from MarketBeat.com, Garrett Motion presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

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.