Quantbot Technologies LP Sells 80,299 Shares of Garrett Motion Inc. $GTX

Quantbot Technologies LP lowered its stake in Garrett Motion Inc. (NYSE:GTX) by 53.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,749 shares of the company’s stock after selling 80,299 shares during the period. Quantbot Technologies LP’s holdings in Garrett Motion were worth $964,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GTX. Jones Financial Companies Lllp bought a new position in Garrett Motion during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC bought a new position in shares of Garrett Motion in the second quarter worth approximately $45,000. Amalgamated Bank purchased a new position in shares of Garrett Motion in the second quarter worth $46,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Garrett Motion in the second quarter worth $61,000. Finally, Blue Trust Inc. raised its holdings in Garrett Motion by 254.7% during the 3rd quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock valued at $84,000 after buying an additional 4,445 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Stock Down 2.2%

Shares of Garrett Motion stock opened at $18.46 on Friday. The business has a 50 day moving average of $18.90 and a 200 day moving average of $16.37. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $21.42. The company has a market cap of $3.51 billion, a PE ratio of 14.54 and a beta of 0.31.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share for the current year.

Garrett Motion Dividend Announcement

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

Garrett Motion announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 3rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GTX shares. BWS Financial increased their price target on shares of Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Stifel Nicolaus boosted their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. initiated coverage on shares of Garrett Motion in a research note on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price objective for the company. Finally, Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Insider Buying and Selling

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were 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 directly owned 905,546 shares in the company, valued at $18,400,694.72. This trade represents a 13.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Julia Steyn sold 17,000 shares of Garrett Motion stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total value of $337,620.00. Following the sale, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. The trade was a 25.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 337,000 shares of company stock valued at $6,839,290 over the last three months. Corporate insiders own 0.83% of the company’s stock.

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.