Other hedge funds and other institutional investors have also modified their holdings of the company. Hawk Ridge Capital Management LP raised its position in Garrett Motion by 2.1% in the fourth quarter. Hawk Ridge Capital Management LP now owns 7,485,692 shares of the company’s stock worth $72,387,000 after acquiring an additional 156,838 shares in the last quarter. Prevatt Capital Ltd bought a new stake in Garrett Motion in the fourth quarter worth about $24,188,000. Vanguard Group Inc. raised its position in Garrett Motion by 152.0% in the third quarter. Vanguard Group Inc. now owns 2,224,144 shares of the company’s stock worth $17,526,000 after acquiring an additional 1,341,535 shares in the last quarter. 683 Capital Management LLC bought a new stake in Garrett Motion in the third quarter worth about $11,032,000. Finally, Gabelli Funds LLC raised its position in Garrett Motion by 1.7% in the fourth quarter. Gabelli Funds LLC now owns 1,003,056 shares of the company’s stock worth $9,700,000 after acquiring an additional 16,658 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.
Garrett Motion Trading Up 1.3 %
NYSE GTX opened at $8.59 on Friday. The stock’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $9.18. The company has a market cap of $1.94 billion, a PE ratio of -7.47 and a beta of 1.19. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16.
Garrett Motion (NYSE:GTX – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.06. The firm had revenue of $915.00 million for the quarter, compared to the consensus estimate of $938.00 million. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. Research analysts forecast that Garrett Motion Inc. will post 1.12 EPS for the current fiscal year.
Insiders Place Their Bets
In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 163,027 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.00, for a total transaction of $1,630,270.00. Following the sale, the insider now owns 27,671,372 shares in the company, valued at approximately $276,713,720. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, BWS Financial reiterated a “buy” rating and issued a $15.00 price target on shares of Garrett Motion in a research report on Monday, June 3rd.
Read Our Latest Report on Garrett Motion
Garrett Motion Profile
(Free Report)
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.
Further Reading
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