Readystate Asset Management LP bought a new stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 65,893 shares of the company's stock, valued at approximately $539,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. HighTower Advisors LLC lifted its stake in Garrett Motion by 85.4% during the 3rd quarter. HighTower Advisors LLC now owns 27,221 shares of the company's stock valued at $217,000 after acquiring an additional 12,542 shares during the period. Centiva Capital LP bought a new position in Garrett Motion during the 3rd quarter valued at about $431,000. Paloma Partners Management Co bought a new position in Garrett Motion during the 3rd quarter valued at about $87,000. Maverick Capital Ltd. lifted its stake in Garrett Motion by 27.5% during the 3rd quarter. Maverick Capital Ltd. now owns 215,531 shares of the company's stock valued at $1,763,000 after acquiring an additional 46,470 shares during the period. Finally, Verition Fund Management LLC lifted its stake in Garrett Motion by 138.4% during the 3rd quarter. Verition Fund Management LLC now owns 45,528 shares of the company's stock valued at $372,000 after acquiring an additional 26,428 shares during the period. Institutional investors own 86.27% of the company's stock.
Analyst Upgrades and Downgrades
Separately, BWS Financial reiterated a "buy" rating and issued a $12.00 price objective on shares of Garrett Motion in a research note on Friday, October 25th.
View Our Latest Research Report on Garrett Motion
Insider Buying and Selling at Garrett Motion
In related news, SVP Thierry Mabru sold 50,000 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was 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 directly owns 140,509 shares in the company, valued at $1,049,602.23. This trade represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company's stock.
Garrett Motion Trading Down 3.0 %
Garrett Motion stock traded down $0.28 during midday trading on Friday, hitting $8.91. The stock had a trading volume of 721,773 shares, compared to its average volume of 925,512. The firm's fifty day moving average is $8.01 and its two-hundred day moving average is $8.35. The company has a market capitalization of $1.90 billion, a PE ratio of 8.74 and a beta of 1.16. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.16.
Garrett Motion (NYSE:GTX - Get Free Report) last released its 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). Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. The firm had revenue of $826.00 million during the quarter, compared to analysts' expectations of $854.00 million. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, equities research analysts predict that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.
Garrett Motion Announces Dividend
The business also recently disclosed a -- dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.06 per share. This represents a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 15th.
Garrett Motion Company Profile
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Free Report)
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.
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![Institutional Ownership by Quarter for Garrett Motion (NYSE:GTX)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=GTX)
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