Barclays PLC Boosts Stock Position in Garrett Motion Inc. (NYSE:GTX)

Barclays PLC raised its stake in Garrett Motion Inc. (NYSE:GTX) by 85.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 297,022 shares of the company’s stock after acquiring an additional 136,600 shares during the period. Barclays PLC’s holdings in Garrett Motion were worth $2,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. William Blair Investment Management LLC lifted its holdings in shares of Garrett Motion by 34.4% during the second quarter. William Blair Investment Management LLC now owns 9,257,594 shares of the company’s stock worth $79,523,000 after purchasing an additional 2,369,442 shares during the period. Lingotto Investment Management LLP purchased a new position in Garrett Motion during the 2nd quarter worth $6,872,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Garrett Motion in the 3rd quarter worth $5,928,000. New South Capital Management Inc. lifted its stake in shares of Garrett Motion by 19.0% in the 3rd quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock worth $22,170,000 after acquiring an additional 431,779 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Garrett Motion by 17.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock valued at $19,570,000 after acquiring an additional 335,472 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Transactions at Garrett Motion

In related news, SVP Thierry Mabru sold 50,000 shares of Garrett Motion stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total transaction of $373,500.00. Following the completion of the transaction, the senior vice president now directly owns 140,509 shares of the company’s stock, valued at approximately $1,049,602.23. The trade was a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a research report on Friday, October 25th.

Garrett Motion Price Performance

Shares of GTX stock opened at $9.06 on Thursday. The business’s fifty day moving average price is $8.32 and its 200 day moving average price is $8.37. The firm has a market capitalization of $1.93 billion, a PE ratio of 8.88 and a beta of 1.16. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.16.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. The company had revenue of $826.00 million for the quarter, compared to analyst estimates of $854.00 million. During the same period last year, the company earned $0.23 earnings per share. Equities research analysts expect that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, January 15th. This represents a dividend yield of 2.7%. Garrett Motion’s payout ratio is 23.53%.

Garrett Motion Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.