Centiva Capital LP Invests $431,000 in Garrett Motion Inc. (NYSE:GTX)

Centiva Capital LP acquired a new stake in Garrett Motion Inc. (NYSE:GTX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 52,653 shares of the company’s stock, valued at approximately $431,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC raised 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 valued at $79,523,000 after buying an additional 2,369,442 shares during the last quarter. New South Capital Management Inc. increased its stake in shares of Garrett Motion by 19.0% during 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 acquiring an additional 431,779 shares during the period. Vanguard Group Inc. raised its holdings in Garrett Motion by 1.6% during the first quarter. Vanguard Group Inc. now owns 2,462,714 shares of the company’s stock worth $24,479,000 after purchasing an additional 39,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Garrett Motion by 17.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock worth $19,570,000 after purchasing an additional 335,472 shares during the period. Finally, Royce & Associates LP boosted its stake in Garrett Motion by 7.1% during the 3rd quarter. Royce & Associates LP now owns 1,649,218 shares of the company’s stock valued at $13,491,000 after purchasing an additional 109,430 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Garrett Motion

In other 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 transaction, the senior vice president now owns 140,509 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and set a $12.00 target price on shares of Garrett Motion in a research note on Friday, October 25th.

Garrett Motion Price Performance

Shares of GTX opened at $8.91 on Monday. Garrett Motion Inc. has a 12-month low of $7.13 and a 12-month high of $10.16. The stock has a market capitalization of $1.90 billion, a P/E ratio of 8.74 and a beta of 1.16. The firm’s 50 day moving average is $8.02 and its 200-day moving average is $8.34.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, October 24th. The company reported $0.24 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $854.00 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, equities research analysts forecast that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.06 per share. This represents a yield of 2.7%. The ex-dividend date is Wednesday, January 15th. 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.