Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,933 Shares of Garrett Motion Inc. (NYSE:GTX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Garrett Motion Inc. (NYSE:GTX) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,203 shares of the company’s stock after buying an additional 2,933 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Garrett Motion were worth $174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. William Blair Investment Management LLC lifted its position in Garrett Motion by 168.3% during the first quarter. William Blair Investment Management LLC now owns 6,888,152 shares of the company’s stock worth $68,468,000 after purchasing an additional 4,320,406 shares during the period. Prevatt Capital Ltd acquired a new stake in shares of Garrett Motion during the 4th quarter worth approximately $24,188,000. Victory Capital Management Inc. acquired a new stake in shares of Garrett Motion during the 4th quarter worth approximately $8,211,000. Findell Capital Management LLC bought a new position in Garrett Motion in the fourth quarter valued at approximately $6,875,000. Finally, Corient Private Wealth LLC acquired a new position in Garrett Motion during the fourth quarter valued at approximately $3,573,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Julia Steyn sold 14,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total transaction of $122,780.00. Following the completion of the transaction, the director now directly owns 53,781 shares in the company, valued at $471,659.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total value of $37,827.79. Following the completion of the sale, the insider now directly owns 27,337,398 shares in the company, valued at $273,647,353.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julia Steyn sold 14,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total value of $122,780.00. Following the completion of the sale, the director now owns 53,781 shares in the company, valued at approximately $471,659.37. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial reduced their target price on Garrett Motion from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, July 25th.

Garrett Motion Stock Down 2.0 %

NYSE:GTX opened at $7.75 on Tuesday. The firm has a market capitalization of $1.75 billion, a PE ratio of -6.74 and a beta of 1.15. Garrett Motion Inc. has a twelve month low of $6.43 and a twelve month high of $10.16. The stock’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $9.05.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $890.00 million for the quarter, compared to the consensus estimate of $950.00 million. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. During the same period last year, the company posted ($1.88) EPS. On average, analysts anticipate that Garrett Motion Inc. will post 1.17 EPS 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.