Beverly Hills Private Wealth LLC Takes Position in Garrett Motion Inc. (NYSE:GTX)

Beverly Hills Private Wealth LLC purchased a new stake in Garrett Motion Inc. (NYSE:GTX) in the fourth quarter, HoldingsChannel reports. The firm purchased 15,721 shares of the company’s stock, valued at approximately $152,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stifel Financial Corp raised its position in shares of Garrett Motion by 2.5% in the second quarter. Stifel Financial Corp now owns 52,365 shares of the company’s stock valued at $396,000 after buying an additional 1,287 shares in the last quarter. UBS Group AG raised its position in shares of Garrett Motion by 11.9% in the third quarter. UBS Group AG now owns 13,458 shares of the company’s stock valued at $76,000 after buying an additional 1,436 shares in the last quarter. XTX Topco Ltd raised its position in shares of Garrett Motion by 8.4% in the first quarter. XTX Topco Ltd now owns 33,326 shares of the company’s stock valued at $255,000 after buying an additional 2,575 shares in the last quarter. Bank of Montreal Can raised its position in shares of Garrett Motion by 4.6% in the first quarter. Bank of Montreal Can now owns 60,144 shares of the company’s stock valued at $441,000 after buying an additional 2,651 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its position in Garrett Motion by 31.0% during the first quarter. Advisor Group Holdings Inc. now owns 12,015 shares of the company’s stock valued at $85,000 after purchasing an additional 2,846 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and set a $15.00 price objective on shares of Garrett Motion in a research report on Monday, April 8th.

Garrett Motion Stock Performance

Shares of GTX opened at $9.23 on Wednesday. Garrett Motion Inc. has a one year low of $6.43 and a one year high of $10.16. The firm has a 50 day simple moving average of $9.50 and a two-hundred day simple moving average of $8.58.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Garrett Motion had a net margin of 6.72% and a negative return on equity of 49.01%. The business had revenue of $945.00 million during the quarter, compared to the consensus estimate of $949.00 million. On average, analysts expect that Garrett Motion Inc. will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the transaction, the insider now directly owns 29,327,284 shares in the company, valued at $274,210,105.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the transaction, the insider now directly owns 29,327,284 shares in the company, valued at $274,210,105.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the transaction, the insider now owns 15,236,484 shares of the company’s stock, valued at $137,128,356. The disclosure for this sale can be found here. Insiders sold a total of 11,161,193 shares of company stock worth $101,430,410 over the last three months. Corporate insiders own 37.08% of the company’s stock.

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.