Assenagon Asset Management S.A. Acquires 47,126 Shares of Garrett Motion Inc. (NYSE:GTX)

Assenagon Asset Management S.A. boosted its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 0.09% of Garrett Motion worth $1,755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTX. Dimensional Fund Advisors LP raised its position in shares of Garrett Motion by 17.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company's stock valued at $19,570,000 after buying an additional 335,472 shares in the last quarter. Magnetar Financial LLC bought a new position in Garrett Motion in the second quarter valued at approximately $173,000. Squarepoint Ops LLC acquired a new position in Garrett Motion during the second quarter valued at approximately $552,000. MBB Public Markets I LLC bought a new stake in Garrett Motion during the second quarter worth $131,000. Finally, Maverick Capital Ltd. boosted its holdings in shares of Garrett Motion by 324.1% in the 2nd quarter. Maverick Capital Ltd. now owns 169,061 shares of the company's stock valued at $1,452,000 after purchasing an additional 129,195 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Stock Performance

Shares of GTX traded up $0.05 during mid-day trading on Friday, reaching $9.60. The company had a trading volume of 779,166 shares, compared to its average volume of 793,031. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 9.41 and a beta of 1.16. The company's 50 day simple moving average is $8.95 and its 200 day simple moving average is $8.46. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.16.

Garrett Motion (NYSE:GTX - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.06). The company had revenue of $826.00 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.23 EPS. As a group, equities analysts forecast 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 issued a dividend of $0.06 per share. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 15th. 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 company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total value of $373,500.00. Following the completion of the transaction, the senior vice president now directly owns 140,509 shares in the company, valued at approximately $1,049,602.23. This represents a 26.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.