The Manufacturers Life Insurance Company Sells 1,690 Shares of Garrett Motion Inc. (NYSE:GTX)

The Manufacturers Life Insurance Company cut its position in shares of Garrett Motion Inc. (NYSE:GTX) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,120 shares of the company’s stock after selling 1,690 shares during the period. The Manufacturers Life Insurance Company’s holdings in Garrett Motion were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of Garrett Motion in the 2nd quarter valued at $67,000. Caprock Group LLC acquired a new stake in Garrett Motion in the 2nd quarter worth approximately $103,000. SG Americas Securities LLC acquired a new stake in shares of Garrett Motion during the second quarter worth $118,000. MBB Public Markets I LLC purchased a new position in shares of Garrett Motion in the second quarter worth about $131,000. Finally, Financial Management Professionals Inc. raised its position in Garrett Motion by 93.1% during the 1st quarter. Financial Management Professionals Inc. now owns 16,344 shares of the company’s stock worth $162,000 after buying an additional 7,879 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Performance

Garrett Motion stock opened at $8.20 on Friday. The company’s fifty day moving average price is $8.10 and its 200 day moving average price is $8.75. The stock has a market capitalization of $1.85 billion, a P/E ratio of -7.13 and a beta of 1.15. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. The firm had revenue of $890.00 million during the quarter, compared to the consensus estimate of $950.00 million. During the same quarter in the prior year, the firm earned ($1.88) EPS. Sell-side analysts predict that Garrett Motion Inc. will post 1.13 EPS for the current year.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a research report on Thursday, September 19th.

Insider Transactions at Garrett Motion

In related news, Director Julia Steyn sold 14,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total transaction of $122,780.00. Following the completion of the sale, the director now owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Garrett Motion 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.