Lingotto Investment Management LLP Acquires Shares of 800,000 Garrett Motion Inc. (NYSE:GTX)

Lingotto Investment Management LLP acquired a new stake in shares of Garrett Motion Inc. (NYSE:GTX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 800,000 shares of the company’s stock, valued at approximately $6,872,000. Lingotto Investment Management LLP owned about 0.35% of Garrett Motion as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pekin Hardy Strauss Inc. boosted its holdings in shares of Garrett Motion by 2.2% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 94,850 shares of the company’s stock valued at $815,000 after purchasing an additional 2,000 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Garrett Motion by 45.2% during the 2nd quarter. Moors & Cabot Inc. now owns 67,500 shares of the company’s stock valued at $580,000 after purchasing an additional 21,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Garrett Motion by 17.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock valued at $19,570,000 after purchasing an additional 335,472 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Garrett Motion by 7.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,027,397 shares of the company’s stock valued at $8,825,000 after purchasing an additional 75,576 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Garrett Motion by 34.4% in the 2nd quarter. William Blair Investment Management LLC now owns 9,257,594 shares of the company’s stock valued at $79,523,000 after acquiring an additional 2,369,442 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial lowered their price target on shares of Garrett Motion from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, July 25th.

Insider Buying and Selling

In related news, Director Julia Steyn sold 14,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total value of $122,780.00. Following the sale, the director now directly owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $10.01, for a total value of $37,827.79. Following the sale, the insider now directly owns 27,337,398 shares of the company’s stock, valued at approximately $273,647,353.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julia Steyn sold 14,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total transaction of $122,780.00. Following the completion of the sale, the director now directly owns 53,781 shares in the company, valued at $471,659.37. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Garrett Motion Trading Up 1.1 %

Shares of NYSE:GTX opened at $8.13 on Wednesday. Garrett Motion Inc. has a 12 month low of $6.43 and a 12 month high of $10.16. The company has a 50-day moving average price of $8.43 and a 200 day moving average price of $8.98. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -7.07 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. The firm had revenue of $890.00 million during the quarter, compared to the consensus estimate of $950.00 million. During the same quarter last year, the firm earned ($1.88) EPS. As a group, equities analysts forecast that Garrett Motion Inc. will post 1.17 EPS for the current 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.