Garrett Motion Inc. $GTX is Four Tree Island Advisory LLC’s 8th Largest Position

Four Tree Island Advisory LLC lifted its holdings in Garrett Motion Inc. (NYSE:GTX) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 527,144 shares of the company’s stock after purchasing an additional 31,213 shares during the period. Garrett Motion comprises 5.1% of Four Tree Island Advisory LLC’s holdings, making the stock its 8th biggest position. Four Tree Island Advisory LLC’s holdings in Garrett Motion were worth $9,188,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. William Blair Investment Management LLC lifted its position in Garrett Motion by 51.0% during the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after acquiring an additional 2,605,296 shares during the last quarter. Vanguard Group Inc. lifted its position in Garrett Motion by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company’s stock valued at $77,120,000 after acquiring an additional 234,735 shares during the last quarter. LSV Asset Management purchased a new stake in Garrett Motion during the third quarter valued at approximately $58,247,000. Dimensional Fund Advisors LP lifted its position in Garrett Motion by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,186,089 shares of the company’s stock valued at $43,390,000 after acquiring an additional 70,155 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in Garrett Motion during the third quarter valued at approximately $40,590,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 2.9%

NYSE:GTX opened at $20.29 on Wednesday. Garrett Motion Inc. has a 52 week low of $9.01 and a 52 week high of $21.42. The firm has a 50 day moving average of $18.96 and a 200 day moving average of $17.83. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 15.98 and a beta of 0.44.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.42 earnings per share (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%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts expect that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.6%. Garrett Motion’s dividend payout ratio is presently 21.05%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total transaction of $405,800.00. Following the transaction, the senior vice president owned 160,994 shares in the company, valued at approximately $3,266,568.26. This represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Rabiller sold 144,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. The trade was a 13.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 337,000 shares of company stock worth $6,839,290. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GTX has been the subject of a number of analyst reports. Freedom Capital raised shares of Garrett Motion to a “strong-buy” rating in a research report on Monday, April 6th. BWS Financial reissued a “buy” rating and set a $22.00 target price on shares of Garrett Motion in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Garrett Motion currently has an average rating of “Moderate Buy” and an average price target of $18.80.

About Garrett Motion

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.