Capula Management Ltd Makes New Investment in Garrett Motion Inc. $GTX

Capula Management Ltd acquired a new stake in shares of Garrett Motion Inc. (NASDAQ:GTX) in the 1st quarter, Holdings Channel.com reports. The fund acquired 137,043 shares of the company’s stock, valued at approximately $2,490,000.

A number of other hedge funds have also recently modified their holdings of GTX. Convergence Investment Partners LLC grew its position 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 worth $835,000 after buying an additional 423 shares during the period. PNC Financial Services Group Inc. lifted its position in Garrett Motion by 22.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after acquiring an additional 629 shares during the period. Baron Wealth Management LLC lifted its position in Garrett Motion by 3.3% during the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after acquiring an additional 878 shares during the period. Global Retirement Partners LLC boosted its stake in Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake 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 worth $707,000 after acquiring an additional 995 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Insider Activity

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 10,516 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $33.82, for a total transaction of $355,651.12. Following the sale, the senior vice president directly owned 83,178 shares in the company, valued at approximately $2,813,079.96. This trade represents a 11.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.93, for a total value 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 approximately $8,362,754.37. The trade was a 29.58% decrease in their position. 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 have sold 213,834 shares of company stock valued at $6,918,710 in the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

GTX has been the subject of a number of analyst reports. Stifel Nicolaus raised their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen lowered Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. BWS Financial reiterated a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research note on Monday, July 6th. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Freedom Capital cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.40.

Garrett Motion Stock Performance

NASDAQ:GTX opened at $31.52 on Friday. The firm has a market cap of $5.90 billion, a P/E ratio of 18.43, a P/E/G ratio of 0.94 and a beta of 0.78. Garrett Motion Inc. has a fifty-two week low of $11.90 and a fifty-two week high of $36.25. The firm has a 50-day simple moving average of $32.76 and a two-hundred day simple moving average of $24.40.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts predict that Garrett Motion Inc. will post 1.81 EPS for the current year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, June 1st. Garrett Motion’s payout ratio is presently 18.71%.

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.