State of Wyoming Has $989,000 Stock Holdings in Garrett Motion Inc. $GTX

State of Wyoming decreased its position in shares of Garrett Motion Inc. (NYSE:GTX) by 28.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,600 shares of the company’s stock after selling 29,236 shares during the period. State of Wyoming’s holdings in Garrett Motion were worth $989,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GTX. Raymond James Financial Inc. increased its position in Garrett Motion by 2.3% during the second quarter. Raymond James Financial Inc. now owns 77,365 shares of the company’s stock worth $813,000 after acquiring an additional 1,759 shares during the period. Garden State Investment Advisory Services LLC increased its holdings in shares of Garrett Motion by 16.4% during the second quarter. Garden State Investment Advisory Services LLC now owns 13,667 shares of the company’s stock worth $144,000 after purchasing an additional 1,922 shares during the period. Baron Wealth Management LLC increased its holdings in shares of Garrett Motion by 13.0% during the third quarter. Baron Wealth Management LLC now owns 24,876 shares of the company’s stock worth $339,000 after purchasing an additional 2,857 shares during the period. Bank of Montreal Can raised its position in shares of Garrett Motion by 5.7% in the second quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock valued at $610,000 after buying an additional 3,106 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Garrett Motion in the second quarter valued at approximately $45,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Performance

Shares of GTX opened at $18.04 on Monday. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $19.28. The business’s fifty day moving average is $17.52 and its 200-day moving average is $15.17. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 14.20 and a beta of 0.25.

Garrett Motion announced that its board has authorized a share repurchase plan on Wednesday, December 3rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

GTX has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. assumed coverage on Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price on the stock. BWS Financial raised their price target on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Garrett Motion in a research report on Monday, October 20th. They set a “hold” rating and a $14.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.80.

About Garrett Motion

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.