Ruffer LLP Makes New Investment in Garrett Motion Inc. $GTX

Ruffer LLP bought a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 270,470 shares of the company’s stock, valued at approximately $3,684,000. Ruffer LLP owned 0.14% of Garrett Motion at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in shares of Garrett Motion during the first quarter worth approximately $42,000. Jane Street Group LLC raised its holdings in shares of Garrett Motion by 641.7% during the first quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after acquiring an additional 78,661 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Garrett Motion by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 329,626 shares of the company’s stock worth $3,464,000 after buying an additional 4,374 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in Garrett Motion by 41.5% in the second quarter. KLP Kapitalforvaltning AS now owns 20,800 shares of the company’s stock worth $219,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Garrett Motion by 158.1% during the second quarter. Ritholtz Wealth Management now owns 168,896 shares of the company’s stock valued at $1,775,000 after purchasing an additional 103,449 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Trading Down 1.1%

NYSE:GTX opened at $18.14 on Thursday. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $19.28. The company has a market cap of $3.53 billion, a P/E ratio of 14.28 and a beta of 0.25. The company’s 50-day moving average price is $17.43 and its 200-day moving average price is $15.05.

Garrett Motion announced that its board has authorized a share repurchase program on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Garrett Motion in a report on Monday, October 20th. They set a “hold” rating and a $14.00 target price for the company. Stifel Nicolaus raised their price target on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. BWS Financial upped their price objective on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.80.

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.