State of Wyoming Sells 20,539 Shares of Garrett Motion Inc. $GTX

State of Wyoming lowered its position in shares of Garrett Motion Inc. (NASDAQ:GTX) by 28.3% during the fourth quarter, HoldingsChannel reports. The fund owned 52,061 shares of the company’s stock after selling 20,539 shares during the quarter. State of Wyoming’s holdings in Garrett Motion were worth $907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GTX. Jones Financial Companies Lllp bought a new stake in Garrett Motion during the 1st quarter worth $42,000. Jane Street Group LLC grew its position in Garrett Motion by 641.7% during 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 last quarter. Cetera Investment Advisers bought a new stake in Garrett Motion during the 2nd quarter worth $121,000. Legal & General Group Plc grew its position in Garrett Motion by 30.4% during 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 last quarter. Finally, Prudential Financial Inc. bought a new stake in Garrett Motion during the 2nd quarter worth $225,000. Institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

GTX has been the topic of a number of research reports. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Stifel Nicolaus lifted their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, BWS Financial lifted their price target on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Garrett Motion has an average rating of “Moderate Buy” and an average target price of $31.83.

Garrett Motion Stock Performance

Shares of NASDAQ:GTX opened at $32.34 on Thursday. The firm has a market cap of $6.05 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The firm’s fifty day moving average is $24.51 and its 200-day moving average is $20.32. Garrett Motion Inc. has a 52 week low of $9.57 and a 52 week high of $34.34.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $985.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts forecast that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Dividend Announcement

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

Insider Buying and Selling at Garrett Motion

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total value of $536,297.16. Following the transaction, the director owned 124,885 shares in the company, valued at $3,898,909.70. The trade was a 12.09% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. The trade was a 32.12% 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. 1.10% of the stock is owned by insiders.

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.