HighTower Advisors LLC Acquires 12,542 Shares of Garrett Motion Inc. (NYSE:GTX)

HighTower Advisors LLC boosted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 85.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,221 shares of the company’s stock after acquiring an additional 12,542 shares during the quarter. HighTower Advisors LLC’s holdings in Garrett Motion were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTX. New South Capital Management Inc. grew its stake in shares of Garrett Motion by 19.0% during the third quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after purchasing an additional 431,779 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in Garrett Motion by 63.9% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 155,450 shares of the company’s stock worth $1,272,000 after buying an additional 60,600 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Garrett Motion by 25.0% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company’s stock worth $10,501,000 after buying an additional 256,366 shares in the last quarter. GSA Capital Partners LLP bought a new position in Garrett Motion in the 3rd quarter valued at $616,000. Finally, Quest Partners LLC increased its stake 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 valued at $986,000 after buying an additional 102,611 shares during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total value of $373,500.00. Following the completion of the sale, the senior vice president now owns 140,509 shares of the company’s stock, valued at approximately $1,049,602.23. This represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a research note on Friday, October 25th.

Garrett Motion Trading Up 0.7 %

Shares of NYSE GTX opened at $9.06 on Thursday. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.16. The firm’s 50-day moving average is $8.32 and its 200-day moving average is $8.37. The firm has a market capitalization of $1.93 billion, a PE ratio of 8.88 and a beta of 1.16.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). The business had revenue of $826.00 million during the quarter, compared to the consensus estimate of $854.00 million. Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, equities research analysts anticipate that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, January 15th. This represents a yield of 2.7%. Garrett Motion’s dividend payout ratio is presently 23.53%.

Garrett Motion Company 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.