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In a recent filing, Centerbridge-related entities reported selling a significant amount of Garrett Motion Inc. (NASDAQ:GTX) stock. The transactions, dated March 7, 2025, involved the sale of 520,000 shares at a price of $9.41 per share, resulting in a total transaction value of approximately $4.89 million. According to InvestingPro data, GTX currently trades at an attractive P/E ratio of 7.16, with analysis suggesting the stock is undervalued based on its Fair Value assessment.
The shares were sold by entities including Centerbridge Special Credit Partners III-Flex, L.P. and Centerbridge Credit Partners Master, L.P. Following these transactions, the entities continue to hold substantial positions in Garrett Motion Inc., with 23,351,125 and 9,795,684 shares remaining, respectively. The company maintains strong profitability metrics, with a gross profit margin of 20.29% and return on assets of 11.74% over the last twelve months.
These transactions were part of routine adjustments and do not necessarily indicate any change in the strategic direction or financial outlook of Garrett Motion Inc. The sales were executed as indirect transactions, as noted in the filing, with Jeffrey H. Aronson, a key figure in the Centerbridge entities, potentially having shared beneficial ownership over the shares involved.
Investors should note that these transactions reflect part of Centerbridge’s broader portfolio management strategy and not necessarily an indicator of the company’s performance or prospects.
In other recent news, Garrett Motion Inc. reported its fourth-quarter 2024 earnings, showcasing a notable earnings per share (EPS) of $0.47, which exceeded the forecasted $0.31. However, the company experienced a revenue shortfall, generating $844 million compared to the anticipated $905.5 million. This mixed performance highlights the company’s ability to manage costs effectively despite lagging sales. Garrett Motion also reported an adjusted EBITDA of $153 million, representing an 18.1% margin, which is a 2.8 percentage point increase from the previous year. Additionally, the company repurchased $296 million of common stock throughout 2024, reducing the share count by 13%. Looking ahead, Garrett Motion projects 2025 net sales of $3.4 billion and net income of $232 million, with a continued focus on zero-emission technologies. The company plans to spend 4.6% of sales on research and development in 2025, emphasizing sustainability. Furthermore, Garrett Motion has announced a $250 million share repurchase program and plans to distribute $50 million in quarterly dividends to shareholders in 2025.
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