Assenagon Asset Management S.A. Raises Position in Garrett Motion Inc. (NYSE:GTX)

Assenagon Asset Management S.A. grew its position in shares of Garrett Motion Inc. (NYSE:GTX) by 32.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 194,315 shares of the company’s stock after acquiring an additional 47,126 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Garrett Motion worth $1,755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd purchased a new position in Garrett Motion during the 3rd quarter valued at about $28,000. Quarry LP increased its stake in shares of Garrett Motion by 54.8% during the second quarter. Quarry LP now owns 5,170 shares of the company’s stock valued at $44,000 after purchasing an additional 1,830 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of Garrett Motion during the third quarter valued at approximately $58,000. Paloma Partners Management Co bought a new stake in shares of Garrett Motion in the 3rd quarter worth approximately $87,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Garrett Motion in the 3rd quarter worth approximately $116,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a report on Wednesday.

Garrett Motion Price Performance

GTX stock opened at $9.55 on Friday. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.16. The company has a market cap of $2.04 billion, a P/E ratio of 9.36 and a beta of 1.16. The stock’s fifty day moving average price is $8.92 and its 200-day moving average price is $8.46.

Garrett Motion (NYSE:GTX) last announced its earnings results on Thursday, October 24th. The company reported $0.24 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 the consensus estimate of $854.00 million. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, analysts expect that Garrett Motion Inc. will post 1.08 earnings per share for the current year.

Garrett Motion Dividend Announcement

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

Insider Buying and Selling

In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were 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 $1,049,602.23. The trade was a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by company insiders.

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.