Stifel Financial Corp cut its holdings in shares of Garrett Motion Inc. (NYSE:GTX – Free Report) by 6.3% in the 3rd quarter, Holdings Channel reports. The fund owned 65,569 shares of the company’s stock after selling 4,403 shares during the period. Stifel Financial Corp’s holdings in Garrett Motion were worth $536,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC raised its stake in 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 valued at $79,523,000 after buying an additional 2,369,442 shares in the last quarter. Lingotto Investment Management LLP acquired a new stake in Garrett Motion in the second quarter worth $6,872,000. New South Capital Management Inc. increased its stake in shares of Garrett Motion by 19.0% in the third quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after purchasing an additional 431,779 shares during the period. Dimensional Fund Advisors LP boosted its position in Garrett Motion by 17.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock worth $19,570,000 after acquiring an additional 335,472 shares during the period. Finally, Seizert Capital Partners LLC raised its position in shares of Garrett Motion by 76.6% during the 3rd quarter. Seizert Capital Partners LLC now owns 659,132 shares of the company’s stock worth $5,392,000 after buying an additional 285,918 shares in the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total value of $373,500.00. Following the sale, the senior vice president now owns 140,509 shares of the company’s stock, valued at $1,049,602.23. This trade represents a 26.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, BWS Financial reissued a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a research note on Friday, October 25th.
Read Our Latest Stock Analysis on Garrett Motion
Garrett Motion Trading Down 0.1 %
GTX stock opened at $9.05 on Friday. The firm has a 50-day moving average of $8.34 and a two-hundred day moving average of $8.37. Garrett Motion Inc. has a one year low of $7.13 and a one year high of $10.16. The firm has a market capitalization of $1.93 billion, a PE ratio of 8.87 and a beta of 1.16.
Garrett Motion (NYSE:GTX – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.06). Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. The company had revenue of $826.00 million during the quarter, compared to analyst estimates of $854.00 million. During the same quarter in the prior year, the company posted $0.23 EPS. On average, equities research analysts anticipate that Garrett Motion Inc. will post 1.08 earnings per share for the current year.
Garrett Motion Announces Dividend
The business also recently announced a — dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a yield of 2.7%. Garrett Motion’s dividend payout ratio (DPR) is currently 23.53%.
Garrett Motion Profile
(Free Report)
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.
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