Caprock Group LLC Reduces Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

Caprock Group LLC lessened its stake in Garrett Motion Inc. (NYSE:GTX) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,342 shares of the company’s stock after selling 1,606 shares during the quarter. Caprock Group LLC’s holdings in Garrett Motion were worth $85,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Covestor Ltd purchased a new position in shares of Garrett Motion in the third quarter valued at $28,000. Quarry LP grew its stake 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 acquiring an additional 1,830 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Garrett Motion during the third quarter worth about $58,000. nVerses Capital LLC acquired a new position in shares of Garrett Motion in the second quarter worth about $67,000. Finally, Aigen Investment Management LP purchased a new position in Garrett Motion in the third quarter valued at about $116,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and issued a $12.00 target price on shares of Garrett Motion in a research report on Friday, October 25th.

Insider Transactions at Garrett Motion

In related news, SVP Thierry Mabru sold 50,000 shares of the firm’s stock in a transaction 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 directly owns 140,509 shares in the company, valued at $1,049,602.23. This trade represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Garrett Motion Price Performance

GTX opened at $8.38 on Tuesday. The stock has a market capitalization of $1.79 billion, a PE ratio of 8.22 and a beta of 1.17. Garrett Motion Inc. has a 12-month low of $7.13 and a 12-month high of $10.16. The firm’s fifty day moving average price is $7.94 and its 200 day moving average price is $8.39.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.06). The company had revenue of $826.00 million for the quarter, compared to the consensus estimate of $854.00 million. Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. During the same period in the previous year, the business posted $0.23 EPS. On average, equities research analysts forecast that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

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.