Jane Street Group LLC Cuts Stake in Garrett Motion Inc. (NYSE:GTX)

Jane Street Group LLC trimmed its position in shares of Garrett Motion Inc. (NYSE:GTX) by 78.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 246,719 shares of the company’s stock after selling 894,213 shares during the period. Jane Street Group LLC owned about 0.12% of Garrett Motion worth $2,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Garrett Motion during the 2nd quarter worth about $118,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Garrett Motion by 17.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock valued at $174,000 after purchasing an additional 2,933 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of Garrett Motion during the second quarter worth about $1,129,000. nVerses Capital LLC acquired a new stake in shares of Garrett Motion in the second quarter valued at $67,000. Finally, Privium Fund Management UK Ltd purchased a new position in Garrett Motion in the second quarter worth approximately $506,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

Shares of GTX opened at $9.06 on Wednesday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 8.88 and a beta of 1.16. The firm has a 50 day simple moving average of $8.28 and a 200-day simple moving average of $8.36. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.16.

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). The firm had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $854.00 million. Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, equities analysts expect that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid 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 dividend payout ratio (DPR) is presently 23.53%.

Insider Transactions at Garrett Motion

In other news, SVP Thierry Mabru sold 50,000 shares of the business’s stock in a transaction 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 approximately $1,049,602.23. The trade was a 26.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a research note 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.