Robeco Institutional Asset Management B.V. Sells 35,660 Shares of Garrett Motion Inc. $GTX

Robeco Institutional Asset Management B.V. decreased its position in shares of Garrett Motion Inc. (NASDAQ:GTX) by 5.7% during the third quarter, Holdings Channel.com reports. The firm owned 595,454 shares of the company’s stock after selling 35,660 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Garrett Motion were worth $15,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Convergence Investment Partners LLC lifted its stake in shares of Garrett Motion by 0.9% in the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after purchasing an additional 423 shares during the period. Farther Finance Advisors LLC boosted its holdings in Garrett Motion by 39.6% during the third quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after buying an additional 476 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Garrett Motion by 22.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after buying an additional 629 shares during the period. Persistent Asset Partners Ltd acquired a new stake in Garrett Motion during the second quarter valued at $27,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Garrett Motion by 2.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock valued at $707,000 after buying an additional 995 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Daniel Deiro sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total value of $801,000.00. Following the transaction, the senior vice president directly owned 133,783 shares of the company’s stock, valued at approximately $3,572,006.10. This trade represents a 18.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GTX shares. BWS Financial reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Garrett Motion in a report on Thursday, October 8th. Wall Street Zen lowered shares of Garrett Motion from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. JPMorgan Chase & Co. dropped their target price on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 15th. Finally, Weiss Ratings lowered Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Garrett Motion presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Garrett Motion Stock Performance

NASDAQ:GTX opened at $21.55 on Friday. The stock has a market capitalization of $4.02 billion, a PE ratio of 11.84, a P/E/G ratio of 0.66 and a beta of 0.83. Garrett Motion Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $36.25. The company has a fifty day moving average of $26.11 and a two-hundred day moving average of $28.23.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. The business had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. Research analysts forecast that Garrett Motion Inc. will post 1.88 earnings per share for the current year.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. Garrett Motion’s dividend payout ratio (DPR) is currently 17.58%.

Garrett Motion Company Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.