Baker Ellis Asset Management LLC Sells 5,020 Shares of Garrett Motion Inc. (NYSE:GTX)

Baker Ellis Asset Management LLC trimmed its position in shares of Garrett Motion Inc. (NYSE:GTX) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 222,827 shares of the company’s stock after selling 5,020 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Garrett Motion were worth $2,012,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd bought a new position in shares of Garrett Motion during the third quarter valued at about $28,000. Quarry LP increased its position 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 buying an additional 1,830 shares during the period. Gladius Capital Management LP purchased a new position in shares of Garrett Motion during the third quarter valued at about $58,000. Paloma Partners Management Co purchased a new position in shares of Garrett Motion during the third quarter valued at about $87,000. Finally, Aigen Investment Management LP purchased a new position in shares of Garrett Motion during the third quarter valued at about $116,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Stock Performance

Shares of GTX opened at $9.45 on Thursday. The stock has a market cap of $2.02 billion, a PE ratio of 9.43 and a beta of 1.16. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $10.16. The firm’s 50-day simple moving average is $8.88 and its two-hundred day simple moving average is $8.45.

Garrett Motion (NYSE:GTX) last posted its quarterly 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 net margin of 6.54% and a negative return on equity of 31.48%. The firm had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $854.00 million. During the same quarter in the previous year, the company earned $0.23 EPS. Equities research analysts predict that Garrett Motion Inc. will post 1.08 EPS for the current year.

Garrett Motion Dividend Announcement

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

Insider Activity 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 shares were sold at an average price of $7.47, for a total value of $373,500.00. Following the transaction, the senior vice president now directly owns 140,509 shares in the company, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.