JPMorgan Chase & Co. increased its holdings in shares of Garrett Motion Inc. (NYSE:GTX – Free Report) by 45.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,705,484 shares of the company’s stock after acquiring an additional 529,949 shares during the period. JPMorgan Chase & Co. owned about 0.88% of Garrett Motion worth $23,229,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of GTX. Tower Research Capital LLC TRC acquired a new position in Garrett Motion in the second quarter worth $45,000. Amalgamated Bank acquired a new position in Garrett Motion during the 2nd quarter worth about $46,000. Jones Financial Companies Lllp acquired a new position in Garrett Motion during the 1st quarter worth about $42,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Garrett Motion during the 2nd quarter worth about $61,000. Finally, Blue Trust Inc. increased its position in Garrett Motion by 254.7% in the 3rd quarter. Blue Trust Inc. now owns 6,190 shares of the company’s stock valued at $84,000 after acquiring an additional 4,445 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.
Garrett Motion Trading Down 0.5%
NYSE:GTX opened at $20.36 on Monday. Garrett Motion Inc. has a 1-year low of $7.01 and a 1-year high of $21.42. The business’s 50-day moving average price is $18.73 and its two-hundred day moving average price is $16.20. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 16.03 and a beta of 0.33.
Garrett Motion (NYSE:GTX – Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts predict that Garrett Motion Inc. will post 1.25 earnings per share for the current year.
Garrett Motion declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 3rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Garrett Motion Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.08 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.32 annualized dividend and a yield of 1.6%. Garrett Motion’s dividend payout ratio (DPR) is 21.05%.
Insider Activity
In related news, CEO Olivier Rabiller sold 144,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the sale, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. This represents a 13.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the sale, the senior vice president directly owned 160,994 shares in the company, valued at $3,266,568.26. The trade was a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 337,000 shares of company stock valued at $6,839,290 in the last quarter. Company insiders own 0.83% of the company’s stock.
Key Garrett Motion News
Here are the key news stories impacting Garrett Motion this week:
- Positive Sentiment: Garrett won a China e‑bus e‑cooling contract, a product win that supports growth into electrified commercial vehicles and could expand addressable market and aftermarket revenue. Garrett’s China E-Bus E-Cooling Win
- Positive Sentiment: Institutional buying/momentum: Harbor Mid Cap Value Fund added GTX, a vote of confidence from a mid‑cap manager that can help drive demand. Harbor Mid Cap Value Fund Adds GTX
- Positive Sentiment: Corporate returns to shareholders: the company recently declared a quarterly dividend ($0.08/share) and has an active $250M buyback authorization (up to ~7.7% of shares), both supportive of the share price and signaling management’s confidence in cash generation. MarketBeat: GTX Profile
- Neutral Sentiment: Recent financials: Garrett beat the quarter on EPS ($0.42 vs. $0.39) and revenue grew ~5.6% year‑over‑year — healthy operational data but mixed longer‑term returns (negative ROE). MarketBeat: Earnings Summary
- Negative Sentiment: Significant insider selling: CEO Olivier Rabiller sold large blocks (143k and 144k shares across Feb. 25–27; SEC filings), and other insiders including SVP Daniel Deiro and Director Julia Steyn also sold material stakes. Large, clustered insider sales are creating near‑term downward pressure and investor concern about timing. Rabiller SEC Filing Deiro SEC Filing Director Sale Alert
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. BWS Financial upped their price objective on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. JPMorgan Chase & Co. began coverage on Garrett Motion in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 target price for the company. Finally, Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.
Check Out Our Latest Stock Analysis on Garrett Motion
About Garrett Motion
(Free Report)
Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.
Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.
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