Measured Wealth Private Client Group LLC Acquires 21,010 Shares of Garrett Motion Inc. $GTX

Measured Wealth Private Client Group LLC boosted its holdings in Garrett Motion Inc. (NASDAQ:GTX) by 150.7% in the 4th quarter, HoldingsChannel reports. The firm owned 34,956 shares of the company’s stock after purchasing an additional 21,010 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Garrett Motion were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GTX. Cullen Frost Bankers Inc. boosted its stake in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after purchasing an additional 1,422 shares during the period. Spire Wealth Management boosted its stake in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the period. Global Retirement Partners LLC boosted its stake in Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in Garrett Motion in the 1st quarter worth approximately $42,000. 86.27% of the stock is currently owned by institutional investors.

Insider Activity at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the transaction, the director directly owned 124,885 shares in the company, valued at approximately $3,898,909.70. This represents a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GTX. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings began coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. JPMorgan Chase & Co. upped their price target on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. Finally, BWS Financial increased their target price on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

Garrett Motion Stock Performance

NASDAQ GTX opened at $32.76 on Friday. The company has a market capitalization of $6.13 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.09 and a beta of 0.70. Garrett Motion Inc. has a one year low of $9.57 and a one year high of $34.34. The stock has a 50 day moving average price of $23.65 and a 200-day moving average price of $19.99.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts predict that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Garrett Motion’s dividend payout ratio is currently 18.71%.

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.