State Street Corp Lowers Holdings in Garrett Motion Inc. (NYSE:GTX)

State Street Corp decreased its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 7.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 856,003 shares of the company's stock after selling 66,758 shares during the period. State Street Corp owned about 0.40% of Garrett Motion worth $7,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GTX. Readystate Asset Management LP purchased a new stake in shares of Garrett Motion during the third quarter valued at about $539,000. HighTower Advisors LLC lifted its position in Garrett Motion by 85.4% during the third 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 last quarter. Centiva Capital LP acquired a new stake in Garrett Motion in the third quarter valued at approximately $431,000. Paloma Partners Management Co purchased a new position in Garrett Motion in the third quarter worth $87,000. Finally, Maverick Capital Ltd. increased its position in shares of Garrett Motion by 27.5% during the third quarter. Maverick Capital Ltd. now owns 215,531 shares of the company's stock worth $1,763,000 after purchasing an additional 46,470 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company's stock.

Garrett Motion Stock Down 1.0 %

Shares of GTX traded down $0.09 during mid-day trading on Friday, hitting $8.96. 1,206,037 shares of the company traded hands, compared to its average volume of 933,424. The company has a market capitalization of $1.91 billion, a PE ratio of 8.78 and a beta of 1.16. The business has a 50 day moving average of $8.35 and a 200 day moving average of $8.37. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.16.

Garrett Motion (NYSE:GTX - Get Free Report) last posted 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 analysts' expectations 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 in the prior year, the business posted $0.23 EPS. As a group, research analysts expect that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently declared a -- dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a yield of 2.7%. Garrett Motion's payout ratio is presently 23.53%.

Insider Activity

In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of Garrett Motion stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 directly owns 140,509 shares in the company, valued at approximately $1,049,602.23. The trade was a 26.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

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

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.