William Blair Investment Management LLC Takes Position in Garrett Motion Inc. $GTX

William Blair Investment Management LLC bought a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,232,883 shares of the company’s stock, valued at approximately $117,127,000.

Several other large investors have also added to or reduced their stakes in GTX. Cullen Frost Bankers Inc. lifted its stake in Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares during the period. Persistent Asset Partners Ltd bought a new position in shares of Garrett Motion during the 2nd quarter worth approximately $27,000. Global Retirement Partners LLC grew its position in shares of Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after buying an additional 970 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of Garrett Motion by 1,422.3% during 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 acquired a new stake in shares of Garrett Motion during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Stock Up 0.8%

NASDAQ GTX opened at $26.62 on Friday. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 0.68 and a beta of 0.82. Garrett Motion Inc. has a 52 week low of $12.26 and a 52 week high of $36.25. The business has a 50 day moving average price of $31.55 and a 200-day moving average price of $26.00.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The company had revenue of $976.00 million for the quarter. During the same period in the previous year, the company earned $0.42 earnings per share. Garrett Motion’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion’s dividend payout ratio is presently 17.58%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GTX. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, May 21st. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Stifel Nicolaus lifted their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. upped their price objective on shares of Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Insiders Place Their Bets

In other news, SVP Mark Albert Rodrigues sold 10,516 shares of Garrett Motion stock in a transaction dated Friday, June 12th. The shares were 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 trade represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 dated Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the sale, the senior vice president directly owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. The trade was a 32.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 196,656 shares of company stock worth $6,382,413. Insiders own 1.10% of the company’s stock.

Garrett Motion Company 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.