New South Capital Management Inc. Buys 431,779 Shares of Garrett Motion Inc. (NYSE:GTX)

New South Capital Management Inc. increased its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 19.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,710,242 shares of the company's stock after purchasing an additional 431,779 shares during the period. New South Capital Management Inc. owned approximately 1.27% of Garrett Motion worth $22,170,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd bought a new stake in shares of Garrett Motion during the third quarter valued at approximately $28,000. Quarry LP raised 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 worth $44,000 after acquiring an additional 1,830 shares during the period. nVerses Capital LLC acquired a new stake in shares of Garrett Motion during the second quarter worth $67,000. Caprock Group LLC bought a new position in shares of Garrett Motion in the 2nd quarter valued at about $103,000. Finally, SG Americas Securities LLC acquired a new stake in Garrett Motion in the 2nd quarter worth about $118,000. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Garrett Motion

In other news, SVP Thierry Mabru sold 50,000 shares of the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total transaction of $373,500.00. Following the sale, the senior vice president now owns 140,509 shares of the company's stock, valued at approximately $1,049,602.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Garrett Motion Price Performance

GTX stock traded up $0.07 during trading on Tuesday, hitting $7.93. 1,068,020 shares of the stock traded hands, compared to its average volume of 928,375. The firm's 50 day moving average is $7.94 and its two-hundred day moving average is $8.50. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.16. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 7.68 and a beta of 1.17.

Garrett Motion (NYSE:GTX - Get Free Report) last issued its quarterly earnings results 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 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. As a group, analysts anticipate that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

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.