JPMorgan Chase & Co. Decreases Stock Position in Garrett Motion Inc. (NYSE:GTX)

JPMorgan Chase & Co. reduced its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 47.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,986 shares of the company's stock after selling 125,388 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of Garrett Motion worth $1,137,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Covestor Ltd acquired a new position in Garrett Motion during the 3rd quarter valued at about $28,000. Quarry LP increased its position in Garrett Motion by 54.8% during the 2nd quarter. Quarry LP now owns 5,170 shares of the company's stock valued at $44,000 after buying an additional 1,830 shares in the last quarter. Gladius Capital Management LP acquired a new position in Garrett Motion during the 3rd quarter valued at about $58,000. Paloma Partners Management Co acquired a new position in Garrett Motion during the 3rd quarter valued at about $87,000. Finally, Aigen Investment Management LP acquired a new position in Garrett Motion during the 3rd quarter valued at about $116,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Garrett Motion Trading Up 0.5 %

Shares of GTX stock traded up $0.05 during mid-day trading on Friday, reaching $9.60. The stock had a trading volume of 779,166 shares, compared to its average volume of 733,998. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.16. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 9.41 and a beta of 1.16. The business's fifty day moving average is $8.95 and its 200-day moving average is $8.46.

Garrett Motion (NYSE:GTX - Get Free Report) last issued 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 analysts' expectations of $854.00 million. During the same quarter in the previous year, the company earned $0.23 EPS. On average, analysts forecast that Garrett Motion Inc. will post 1.08 earnings per share for the current year.

Garrett Motion Dividend Announcement

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

Insider Transactions at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of the stock in a transaction that occurred 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. This represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company's stock.

About Garrett Motion

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.