Loomis Sayles & Co. L P Grows Position in Garrett Motion Inc. $GTX

Loomis Sayles & Co. L P lifted its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,619,180 shares of the company's stock after acquiring an additional 41,214 shares during the period. Loomis Sayles & Co. L P owned approximately 0.80% of Garrett Motion worth $17,018,000 at the end of the most recent reporting period.

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Several other large investors also recently added to or reduced their stakes in GTX. Gates Capital Management Inc. grew its position in Garrett Motion by 53.1% in the first quarter. Gates Capital Management Inc. now owns 6,795,553 shares of the company's stock worth $56,879,000 after acquiring an additional 2,358,294 shares in the last quarter. Geode Capital Management LLC boosted its position in Garrett Motion by 92.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,053,869 shares of the company's stock valued at $32,100,000 after acquiring an additional 1,466,048 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. grew its position in shares of Garrett Motion by 37.1% in the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,925,770 shares of the company's stock worth $30,750,000 after buying an additional 791,177 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Garrett Motion in the 2nd quarter worth approximately $5,728,000. Finally, Assenagon Asset Management S.A. grew its position in Garrett Motion by 574.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 534,744 shares of the company's stock valued at $5,620,000 after purchasing an additional 455,411 shares during the last quarter. Institutional investors own 86.27% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Stifel Nicolaus set a $20.00 target price on shares of Garrett Motion in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Garrett Motion in a report on Monday, October 20th. They issued a "hold" rating and a $14.00 target price on the stock. Finally, BWS Financial reiterated a "buy" rating and set a $18.00 price target on shares of Garrett Motion in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Garrett Motion currently has a consensus rating of "Buy" and a consensus price target of $16.50.

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Get Our Latest Stock Analysis on Garrett Motion

Insider Buying and Selling

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of Garrett Motion stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $13.28, for a total value of $4,655,516.48. Following the completion of the transaction, the insider owned 20,009,945 shares of the company's stock, valued at approximately $265,732,069.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 613,403 shares of company stock worth $8,133,314 in the last quarter. 0.83% of the stock is currently owned by company insiders.

Garrett Motion Price Performance

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Shares of NYSE:GTX opened at $16.72 on Monday. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $17.91. The firm has a market capitalization of $3.25 billion, a P/E ratio of 13.17 and a beta of 0.41. The business's 50-day moving average is $15.13 and its 200 day moving average is $12.99.

Garrett Motion (NYSE:GTX - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. During the same quarter in the prior year, the company earned $0.24 earnings per share. The firm's revenue was up 9.2% on a year-over-year basis. Garrett Motion has set its FY 2025 guidance at EPS. On average, analysts expect that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.08 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from Garrett Motion's previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. Garrett Motion's dividend payout ratio (DPR) is currently 20.38%.

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.

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