Central Pacific Bank Trust Division Trims Holdings in Garrett Motion Inc. (NYSE:GTX)

Central Pacific Bank Trust Division cut its holdings in Garrett Motion Inc. (NYSE:GTX) by 16.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,635 shares of the company’s stock after selling 4,100 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Garrett Motion were worth $169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GTX. Quarry LP grew its position in shares of Garrett Motion by 54.8% in the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after buying an additional 1,830 shares during the period. nVerses Capital LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter worth about $67,000. Caprock Group LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter worth about $103,000. SG Americas Securities LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter worth about $118,000. Finally, MBB Public Markets I LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter worth about $131,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were 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 of the company’s stock, valued at $273,647,353.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Julia Steyn sold 14,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total value of $122,780.00. Following the transaction, the director now owns 53,781 shares in the company, valued at $471,659.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the completion of the transaction, the insider now owns 27,337,398 shares in the company, valued at $273,647,353.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Garrett Motion Stock Performance

Shares of GTX stock opened at $8.04 on Friday. Garrett Motion Inc. has a one year low of $6.43 and a one year high of $10.16. The company’s 50-day moving average is $8.16 and its 200 day moving average is $8.87. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -6.99 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $890.00 million for the quarter, compared to the consensus estimate of $950.00 million. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. During the same quarter last year, the firm posted ($1.88) EPS. As a group, research analysts predict that Garrett Motion Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About Garrett Motion

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.