HighTower Advisors LLC Has $217,000 Stake in Garrett Motion Inc. (NYSE:GTX)

HighTower Advisors LLC lifted its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 85.4% during the third quarter, HoldingsChannel reports. The firm owned 27,221 shares of the company’s stock after acquiring an additional 12,542 shares during the quarter. HighTower Advisors LLC’s holdings in Garrett Motion were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Garrett Motion by 17.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock worth $174,000 after acquiring an additional 2,933 shares during the period. nVerses Capital LLC acquired a new position in Garrett Motion in the 2nd quarter worth $67,000. Privium Fund Management UK Ltd bought a new position in Garrett Motion during the 2nd quarter worth about $506,000. Victory Capital Management Inc. raised its stake in shares of Garrett Motion by 13.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,186,998 shares of the company’s stock valued at $10,196,000 after purchasing an additional 144,576 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Garrett Motion in the second quarter valued at about $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 business’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and set a $12.00 price objective on shares of Garrett Motion in a report on Friday, October 25th.

Garrett Motion Stock Up 0.7 %

Shares of GTX opened at $9.06 on Thursday. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.16. The stock has a market capitalization of $1.93 billion, a P/E ratio of 8.88 and a beta of 1.16. The company has a 50 day moving average of $8.32 and a 200-day moving average of $8.37.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. The business had revenue of $826.00 million during the quarter, compared to the consensus estimate of $854.00 million. During the same period last year, the business posted $0.23 EPS. On average, sell-side analysts anticipate that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently announced a — dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $0.06 dividend. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 15th. Garrett Motion’s dividend payout ratio is currently 23.53%.

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.