Royce & Associates LP Increases Position in Garrett Motion Inc. (NYSE:GTX)

Royce & Associates LP increased its stake in Garrett Motion Inc. (NYSE:GTX) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,649,218 shares of the company’s stock after purchasing an additional 109,430 shares during the quarter. Royce & Associates LP owned 0.77% of Garrett Motion worth $13,491,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quarry LP boosted its stake in shares of Garrett Motion by 54.8% during the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after purchasing an additional 1,830 shares during the last quarter. Pekin Hardy Strauss Inc. boosted its position in shares of Garrett Motion by 2.2% in the second quarter. Pekin Hardy Strauss Inc. now owns 94,850 shares of the company’s stock worth $815,000 after acquiring an additional 2,000 shares during the last quarter. Entropy Technologies LP boosted its position in shares of Garrett Motion by 17.0% in the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock worth $147,000 after acquiring an additional 2,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Garrett Motion by 17.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock worth $174,000 after acquiring an additional 2,933 shares during the last quarter. Finally, Covestor Ltd acquired a new stake in shares of Garrett Motion in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Thierry Mabru sold 50,000 shares of the business’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 transaction, the senior vice president now owns 140,509 shares of the company’s stock, valued at approximately $1,049,602.23. The trade was a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Garrett Motion Trading Up 0.6 %

GTX stock opened at $7.85 on Friday. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.16. The company has a market capitalization of $1.68 billion, a P/E ratio of 7.70 and a beta of 1.17. The firm has a 50 day simple moving average of $7.92 and a 200-day simple moving average of $8.46.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results 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). Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. The company had revenue of $826.00 million for the quarter, compared to analyst estimates of $854.00 million. During the same period in the previous year, the business posted $0.23 EPS. On average, research analysts predict that Garrett Motion Inc. will post 1.08 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.