Geode Capital Management LLC Sells 42,039 Shares of Garrett Motion Inc. (NYSE:GTX)

Geode Capital Management LLC lessened its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,599,403 shares of the company’s stock after selling 42,039 shares during the quarter. Geode Capital Management LLC’s holdings in Garrett Motion were worth $13,088,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Covestor Ltd acquired a new position in Garrett Motion during the third quarter worth $28,000. Quarry LP grew its holdings in shares of Garrett Motion by 54.8% in the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after purchasing an additional 1,830 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Garrett Motion during the 3rd quarter worth about $58,000. nVerses Capital LLC bought a new position in Garrett Motion during the 2nd quarter valued at about $67,000. Finally, Paloma Partners Management Co acquired a new position in Garrett Motion in the third quarter valued at about $87,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Activity

In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of the business’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Garrett Motion Stock Performance

Shares of GTX opened at $8.90 on Tuesday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 8.73 and a beta of 1.16. The stock has a fifty day moving average price of $8.35 and a two-hundred day moving average price of $8.37. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.16.

Garrett Motion (NYSE:GTX) last released its quarterly 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). The business had revenue of $826.00 million during the quarter, compared to the consensus estimate of $854.00 million. Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. During the same period in the prior year, the firm earned $0.23 earnings per share. As a group, research analysts predict that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Garrett Motion Announces Dividend

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

Analyst Upgrades and Downgrades

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

Garrett Motion Company 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.