Covestor Ltd Takes Position in Garrett Motion Inc. (NYSE:GTX)

Covestor Ltd acquired a new stake in shares of Garrett Motion Inc. (NYSE:GTX) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 3,427 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds also recently bought and sold shares of GTX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Garrett Motion during the first quarter valued at approximately $1,962,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Garrett Motion by 9.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 123,709 shares of the company’s stock worth $1,233,000 after buying an additional 10,655 shares in the last quarter. Vanguard Group Inc. grew its stake in Garrett Motion by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 2,462,714 shares of the company’s stock worth $24,479,000 after buying an additional 39,375 shares in the last quarter. Kahn Brothers Group Inc. purchased a new position in Garrett Motion in the 1st quarter worth approximately $214,000. Finally, Redwood Investment Management LLC purchased a new position in Garrett Motion in the 1st quarter worth approximately $639,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Insider Transactions at Garrett Motion

In related news, SVP Thierry Mabru sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total transaction of $373,500.00. Following the completion of the sale, the senior vice president now directly owns 140,509 shares in the company, valued at $1,049,602.23. This represents a 26.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

Garrett Motion Price Performance

GTX stock opened at $7.85 on Friday. Garrett Motion Inc. has a one year low of $7.13 and a one year high of $10.16. The stock has a market cap of $1.68 billion, a PE ratio of 7.70 and a beta of 1.17. The firm has a 50 day simple moving average of $7.92 and a two-hundred day simple moving average of $8.46.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). The business had revenue of $826.00 million during 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 quarter in the previous year, the firm posted $0.23 earnings per share. On average, research analysts expect that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.