Arizona State Retirement System Sells 1,144 Shares of Garrett Motion Inc. (NYSE:GTX)

Arizona State Retirement System reduced its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,322 shares of the company’s stock after selling 1,144 shares during the quarter. Arizona State Retirement System’s holdings in Garrett Motion were worth $245,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GTX. Towerview LLC boosted its holdings in shares of Garrett Motion by 81.2% in the 3rd quarter. Towerview LLC now owns 140,000 shares of the company’s stock valued at $1,103,000 after buying an additional 62,725 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Garrett Motion by 152.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,224,144 shares of the company’s stock valued at $17,526,000 after buying an additional 1,341,535 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Garrett Motion by 188.7% in the 3rd quarter. Swiss National Bank now owns 204,400 shares of the company’s stock valued at $1,611,000 after buying an additional 133,600 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Garrett Motion in the 3rd quarter valued at approximately $528,000. Finally, Hawk Ridge Capital Management LP boosted its holdings in shares of Garrett Motion by 8.8% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 7,328,854 shares of the company’s stock valued at $57,751,000 after buying an additional 593,300 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $9.35 on Monday. The business has a fifty day simple moving average of $9.56 and a two-hundred day simple moving average of $8.62. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -7.19 and a beta of 1.31.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. The business had revenue of $945.00 million during the quarter, compared to the consensus estimate of $949.00 million. As a group, equities analysts anticipate that Garrett Motion Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the sale, the insider now owns 29,327,284 shares of the company’s stock, valued at approximately $274,210,105.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the transaction, the insider now owns 29,327,284 shares in the company, valued at approximately $274,210,105.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total value of $90,000,000.00. Following the transaction, the insider now owns 15,236,484 shares in the company, valued at approximately $137,128,356. The disclosure for this sale can be found here. Insiders sold 11,161,193 shares of company stock valued at $101,430,410 in the last quarter. 37.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $15.00 price target on shares of Garrett Motion in a report on Monday, April 8th.

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.