GW&K Investment Management LLC Has $30.62 Million Stock Position in Garrett Motion Inc. $GTX

GW&K Investment Management LLC decreased its position in Garrett Motion Inc. (NASDAQ:GTX) by 11.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,756,689 shares of the company’s stock after selling 235,169 shares during the period. GW&K Investment Management LLC’s holdings in Garrett Motion were worth $30,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Garrett Motion by 45.1% in 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 in the last quarter. Comerica Bank raised its holdings in shares of Garrett Motion by 22.0% in 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 in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Garrett Motion by 75.0% in 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 in the last quarter. Yorkville Advisors Global LP acquired a new position in shares of Garrett Motion in the 3rd quarter worth approximately $11,168,000. Finally, Leuthold Group LLC acquired a new position in shares of Garrett Motion in the 3rd quarter worth approximately $3,331,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GTX shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a report on Thursday, May 21st. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Freedom Capital cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Garrett Motion has a consensus rating of “Moderate Buy” and an average price target of $31.83.

Garrett Motion Price Performance

GTX stock opened at $31.98 on Thursday. The business has a fifty day moving average price of $25.94 and a 200 day moving average price of $20.88. Garrett Motion Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $34.34. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.03 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts expect that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Garrett Motion’s dividend payout ratio (DPR) is currently 18.71%.

Insider Activity at Garrett Motion

In related news, CFO Sean Deason sold 110,000 shares of the firm’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 directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This trade represents a 29.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the sale, the director directly owned 124,885 shares of the company’s stock, valued at $3,898,909.70. This represents a 12.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 197,178 shares of company stock valued at $6,358,597 in the last three months. Corporate 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.