Garrett Motion Inc. $GTX Holdings Reduced by Prevatt Capital Ltd

Prevatt Capital Ltd lowered its stake in shares of Garrett Motion Inc. (NASDAQ:GTX) by 15.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,250,000 shares of the company’s stock after selling 400,000 shares during the quarter. Garrett Motion accounts for 11.0% of Prevatt Capital Ltd’s investment portfolio, making the stock its 3rd largest position. Prevatt Capital Ltd’s holdings in Garrett Motion were worth $40,882,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. increased its stake in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after acquiring an additional 1,422 shares during the last quarter. Spire Wealth Management boosted its position in shares of 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 acquiring an additional 1,350 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Garrett Motion by 156.7% in the fourth 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 during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in Garrett Motion during the first quarter worth about $42,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garrett Motion

In other news, SVP Thierry Mabru sold 70,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the sale, the senior vice president owned 147,956 shares of the company’s stock, valued at $4,882,548. This represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total transaction of $204,462.00. Following the completion of the transaction, the senior vice president directly owned 77,038 shares in the company, valued at approximately $2,565,365.40. This represents a 7.38% 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 213,834 shares of company stock valued at $6,918,710 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

GTX has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price 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. BWS Financial raised their price target on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, May 21st. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. Finally, Weiss Ratings initiated coverage on Garrett Motion in a research report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Garrett Motion currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

Garrett Motion Trading Down 5.5%

Shares of GTX opened at $31.75 on Friday. The company’s 50-day moving average price is $30.78 and its 200 day moving average price is $22.86. Garrett Motion Inc. has a 12-month low of $10.71 and a 12-month high of $36.25. The firm has a market cap of $5.94 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.05 and a beta of 0.78.

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

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.08 dividend. The ex-dividend date 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 18.71%.

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.