Raymond James & Associates Lowers Position in Garrett Motion Inc. (NYSE:GTX)

Raymond James & Associates decreased its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 23.0% in the 4th quarter, Holdings Channel reports. The firm owned 27,477 shares of the company’s stock after selling 8,213 shares during the period. Raymond James & Associates’ holdings in Garrett Motion were worth $266,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GTX. Bank of New York Mellon Corp lifted its position in Garrett Motion by 91.4% during the third quarter. Bank of New York Mellon Corp now owns 88,757 shares of the company’s stock valued at $699,000 after purchasing an additional 42,376 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Garrett Motion during the 3rd quarter valued at $363,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Garrett Motion by 83.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,738 shares of the company’s stock worth $92,000 after acquiring an additional 5,328 shares during the last quarter. Altfest L J & Co. Inc. purchased a new position in Garrett Motion in the third quarter worth $79,000. Finally, Towerview LLC increased its stake in Garrett Motion by 81.2% in the third quarter. Towerview LLC now owns 140,000 shares of the company’s stock valued at $1,103,000 after acquiring an additional 62,725 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Garrett Motion Price Performance

Shares of NYSE GTX opened at $9.75 on Tuesday. The stock has a market capitalization of $2.22 billion, a P/E ratio of -8.48 and a beta of 1.31. Garrett Motion Inc. has a one year low of $6.43 and a one year high of $10.16. The firm’s 50 day simple moving average is $9.65 and its two-hundred day simple moving average is $8.72.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, February 15th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $945.00 million for the quarter, compared to analysts’ expectations of $949.00 million. Garrett Motion had a net margin of 6.42% and a negative return on equity of 35.33%. As a group, equities analysts expect that Garrett Motion Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 29,327,284 shares in the company, valued at approximately $274,210,105.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 shares were 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 filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the completion of the sale, the insider now directly owns 15,236,484 shares in the company, valued at approximately $137,128,356. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,161,193 shares of company stock worth $101,430,410. Company insiders own 0.60% of the company’s stock.

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.