Caprock Group LLC Takes $103,000 Position in Garrett Motion Inc. (NYSE:GTX)

Caprock Group LLC bought a new stake in shares of Garrett Motion Inc. (NYSE:GTX) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 11,948 shares of the company’s stock, valued at approximately $103,000.

Several other hedge funds have also modified their holdings of the stock. nVerses Capital LLC bought a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $67,000. SG Americas Securities LLC acquired a new position in Garrett Motion during the 2nd quarter valued at approximately $118,000. Prairiewood Capital LLC acquired a new position in Garrett Motion during the 1st quarter valued at approximately $135,000. Financial Management Professionals Inc. boosted its position in Garrett Motion by 93.1% during the 1st quarter. Financial Management Professionals Inc. now owns 16,344 shares of the company’s stock valued at $162,000 after purchasing an additional 7,879 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Garrett Motion by 17.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock valued at $174,000 after purchasing an additional 2,933 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Stock Performance

Shares of GTX stock opened at $8.01 on Friday. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16. The stock has a fifty day moving average of $8.45 and a two-hundred day moving average of $9.01. The firm has a market capitalization of $1.81 billion, a PE ratio of -6.97 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. The company had revenue of $890.00 million for the quarter, compared to the consensus estimate of $950.00 million. During the same quarter in the previous year, the business earned ($1.88) EPS. Equities research analysts predict that Garrett Motion Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at Garrett Motion

In other news, Director Julia Steyn sold 14,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total value of $122,780.00. Following the sale, the director now owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. The transaction 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 company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the transaction, the insider now directly owns 27,337,398 shares of the company’s stock, valued at $273,647,353.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $122,780.00. Following the transaction, the director now directly owns 53,781 shares in the company, valued at $471,659.37. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

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

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.