Tudor Investment Corp ET AL Sells 373,487 Shares of Garrett Motion Inc. $GTX
by Teresa Graham · The Cerbat GemTudor Investment Corp ET AL lessened its position in Garrett Motion Inc. (NYSE:GTX – Free Report) by 87.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 51,568 shares of the company’s stock after selling 373,487 shares during the period. Tudor Investment Corp ET AL’s holdings in Garrett Motion were worth $702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of GTX. Jones Financial Companies Lllp bought a new position in Garrett Motion in the 1st quarter worth $42,000. Jane Street Group LLC raised its holdings in Garrett Motion by 641.7% in the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock worth $761,000 after acquiring an additional 78,661 shares during the period. Cetera Investment Advisers bought a new position in Garrett Motion in the 2nd quarter worth $121,000. Legal & General Group Plc raised its holdings in Garrett Motion by 30.4% in the 2nd quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock worth $1,024,000 after acquiring an additional 22,727 shares during the period. Finally, Prudential Financial Inc. bought a new position in Garrett Motion in the 2nd quarter worth $225,000. Institutional investors own 86.27% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on GTX shares. JPMorgan Chase & Co. started coverage on shares of Garrett Motion in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target on the stock. BWS Financial restated a “buy” rating and issued a $22.00 price target on shares of Garrett Motion in a research report on Thursday, April 9th. Stifel Nicolaus raised their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Freedom Capital upgraded shares of Garrett Motion to a “strong-buy” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Garrett Motion currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.
Read Our Latest Stock Report on GTX
Insider Buying and Selling at Garrett Motion
In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the transaction, the senior vice president directly owned 160,994 shares in the company, valued at $3,266,568.26. The trade was a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the transaction, the chief executive officer owned 905,546 shares in the company, valued at approximately $18,400,694.72. This trade represents a 13.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 337,000 shares of company stock worth $6,839,290 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.
Garrett Motion Stock Performance
Shares of Garrett Motion stock opened at $19.27 on Wednesday. The firm’s 50-day simple moving average is $18.92 and its 200-day simple moving average is $17.35. Garrett Motion Inc. has a twelve month low of $8.77 and a twelve month high of $21.42. The firm has a market cap of $3.66 billion, a P/E ratio of 15.17 and a beta of 0.44.
Garrett Motion (NYSE:GTX – Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. Garrett Motion’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.
Garrett Motion Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.08 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.7%. Garrett Motion’s payout ratio is 21.05%.
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.
See Also
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