Victory Capital Management Inc. Has $10.03 Million Holdings in Garrett Motion Inc. (NYSE:GTX)

Victory Capital Management Inc. lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,225,850 shares of the company’s stock after acquiring an additional 38,852 shares during the quarter. Victory Capital Management Inc. owned about 0.57% of Garrett Motion worth $10,027,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GTX. William Blair Investment Management LLC boosted its stake in Garrett Motion by 34.4% during the 2nd quarter. William Blair Investment Management LLC now owns 9,257,594 shares of the company’s stock valued at $79,523,000 after purchasing an additional 2,369,442 shares during the period. Lingotto Investment Management LLP bought a new stake in Garrett Motion during the 2nd quarter valued at approximately $6,872,000. New South Capital Management Inc. boosted its stake in Garrett Motion by 19.0% during the 3rd 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 period. Dimensional Fund Advisors LP boosted its stake in Garrett Motion by 17.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock valued at $19,570,000 after purchasing an additional 335,472 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Garrett Motion in the 3rd quarter worth approximately $1,204,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Performance

NYSE GTX opened at $8.16 on Friday. The stock has a fifty day moving average of $7.93 and a 200-day moving average of $8.42. The stock has a market capitalization of $1.74 billion, a P/E ratio of 8.00 and a beta of 1.17. Garrett Motion Inc. has a 52 week low of $7.13 and a 52 week high of $10.16.

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

Insider Activity at Garrett Motion

In other news, SVP Thierry Mabru sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total transaction of $373,500.00. Following the completion of the sale, the senior vice president now owns 140,509 shares in the company, valued at $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 is available at this hyperlink. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.