Garrett Motion Inc. (NYSE:GTX) Stake Decreased by nVerses Capital LLC

nVerses Capital LLC reduced its holdings in Garrett Motion Inc. (NYSE:GTX) by 23.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the company’s stock after selling 1,800 shares during the quarter. nVerses Capital LLC’s holdings in Garrett Motion were worth $49,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Garrett Motion by 54.8% during the second quarter. Quarry LP now owns 5,170 shares of the company’s stock valued at $44,000 after purchasing an additional 1,830 shares during the period. Pekin Hardy Strauss Inc. lifted its stake in shares of Garrett Motion by 2.2% in the 2nd 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 period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 valued at $174,000 after acquiring an additional 2,933 shares in the last quarter. Baker Ellis Asset Management LLC raised its holdings in Garrett Motion by 1.7% during the second quarter. Baker Ellis Asset Management LLC now owns 236,353 shares of the company’s stock worth $2,030,000 after purchasing an additional 3,981 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in Garrett Motion by 93.1% in the first quarter. Financial Management Professionals Inc. now owns 16,344 shares of the company’s stock worth $162,000 after purchasing an additional 7,879 shares during the period. Institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Garrett Motion Trading Up 0.1 %

Shares of NYSE GTX opened at $8.00 on Wednesday. The firm has a 50-day moving average of $8.10 and a two-hundred day moving average of $8.71. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -6.98 and a beta of 1.15. Garrett Motion Inc. has a twelve month low of $6.43 and a twelve month high of $10.16.

Garrett Motion (NYSE:GTX) last posted its quarterly 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. The company had revenue of $890.00 million for the quarter, compared to analysts’ expectations of $950.00 million. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. During the same quarter in the prior year, the company earned ($1.88) earnings per share. As a group, research analysts predict that Garrett Motion Inc. will post 1.13 earnings per share for the current year.

Insider Activity

In related news, Director Julia Steyn sold 14,000 shares of Garrett Motion stock in a transaction dated Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $471,659.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.

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.