Garrett Motion Inc. (NYSE:GTX) Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. increased its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 63.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,450 shares of the company's stock after purchasing an additional 60,600 shares during the quarter. Pekin Hardy Strauss Inc. owned 0.07% of Garrett Motion worth $1,272,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GTX. Covestor Ltd purchased a new position in Garrett Motion in the third quarter worth approximately $28,000. Quarry LP grew its holdings in 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. Gladius Capital Management LP purchased a new position in Garrett Motion in the third quarter valued at about $58,000. nVerses Capital LLC acquired a new stake in Garrett Motion in the 2nd quarter valued at about $67,000. Finally, Caprock Group LLC purchased a new position in Garrett Motion during the second quarter worth $103,000. Institutional investors and hedge funds own 86.27% of the company's stock.

Insider Buying and Selling

In related news, SVP Thierry Mabru sold 50,000 shares of the firm'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 value 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 26.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a "buy" rating and set a $12.00 price objective on shares of Garrett Motion in a research note on Friday, October 25th.

Garrett Motion Price Performance

NYSE GTX traded up $0.11 during mid-day trading on Friday, hitting $8.31. The company's stock had a trading volume of 974,787 shares, compared to its average volume of 864,405. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.16. The stock's fifty day simple moving average is $7.94 and its two-hundred day simple moving average is $8.40. The firm has a market capitalization of $1.77 billion, a P/E ratio of 8.15 and a beta of 1.17.

Garrett Motion (NYSE:GTX - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.06). The company had revenue of $826.00 million for the quarter, compared to analyst estimates 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 period last year, the firm posted $0.23 earnings per share. On average, equities analysts forecast that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

Garrett Motion 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.