Truist Financial Corp Sells 41,848 Shares of Garrett Motion Inc. (NYSE:GTX)

Truist Financial Corp trimmed its stake in Garrett Motion Inc. (NYSE:GTX) by 20.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,927 shares of the company’s stock after selling 41,848 shares during the period. Truist Financial Corp owned 0.07% of Garrett Motion worth $1,425,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Redwood Investment Management LLC bought a new position in shares of Garrett Motion in the 1st quarter worth $639,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Garrett Motion in the 1st quarter worth $1,962,000. BNP Paribas Financial Markets raised its position in shares of Garrett Motion by 133.0% in the 1st quarter. BNP Paribas Financial Markets now owns 139,543 shares of the company’s stock worth $1,387,000 after acquiring an additional 79,656 shares in the last quarter. Quest Partners LLC raised its position in shares of Garrett Motion by 840.7% in the 2nd quarter. Quest Partners LLC now owns 114,816 shares of the company’s stock worth $986,000 after acquiring an additional 102,611 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Garrett Motion by 17.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock worth $19,570,000 after acquiring an additional 335,472 shares in the last quarter. 86.27% of the stock is owned by institutional investors.

Insider Activity at Garrett Motion

In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of the business’s 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 sale, the director now owns 53,781 shares in the company, valued at approximately $471,659.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the sale, the insider now owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Steyn sold 14,000 shares of the business’s 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 owns 53,781 shares in the company, valued at approximately $471,659.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Garrett Motion Price Performance

Shares of NYSE:GTX opened at $8.20 on Friday. The business’s 50-day moving average is $8.08 and its 200 day moving average is $8.79. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16. The firm has a market capitalization of $1.79 billion, a P/E ratio of 8.12 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last announced its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. The company had revenue of $890.00 million for the quarter, compared to analyst estimates of $950.00 million. During the same period in the prior year, the company posted ($1.88) EPS. On average, analysts expect that Garrett Motion Inc. will post 1.13 EPS for the current year.

Analysts Set New Price Targets

Separately, BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Garrett Motion in a research report on Thursday, September 19th.

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.