Garrett Motion Inc. (NYSE:GTX) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in shares of Garrett Motion Inc. (NYSE:GTXFree Report) by 11.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 384,378 shares of the company’s stock after selling 48,414 shares during the quarter. Millennium Management LLC owned about 0.17% of Garrett Motion worth $3,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pekin Hardy Strauss Inc. increased its holdings in shares of Garrett Motion by 2.2% in the second quarter. Pekin Hardy Strauss Inc. now owns 94,850 shares of the company’s stock valued at $815,000 after purchasing an additional 2,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Garrett Motion by 17.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock valued at $174,000 after acquiring an additional 2,933 shares in the last quarter. Baker Ellis Asset Management LLC lifted its position in Garrett Motion by 1.7% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 236,353 shares of the company’s stock valued at $2,030,000 after acquiring an additional 3,981 shares in the last quarter. nVerses Capital LLC bought a new stake in Garrett Motion during the 2nd quarter worth about $67,000. Finally, Financial Management Professionals Inc. raised its holdings in shares of Garrett Motion by 93.1% in 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. Institutional investors and hedge funds own 86.27% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and set a $12.00 price objective on shares of Garrett Motion in a report on Thursday, September 19th.

Get Our Latest Research Report on GTX

Insider Transactions at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 27,337,398 shares of the company’s stock, valued at $273,647,353.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of the 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 transaction, the director now directly owns 53,781 shares in the company, valued at approximately $471,659.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $10.01, for a total value of $37,827.79. Following the completion of the transaction, the insider now directly owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Garrett Motion Price Performance

Shares of NYSE:GTX opened at $8.16 on Tuesday. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -7.10 and a beta of 1.15. The business’s 50 day moving average price is $8.09 and its 200-day moving average price is $8.77.

Garrett Motion (NYSE:GTXGet Free Report) last posted its earnings results 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 period in the previous year, the business earned ($1.88) earnings per share. On average, sell-side analysts expect that Garrett Motion Inc. will post 1.13 earnings per share for the current year.

Garrett Motion Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Garrett Motion (NYSE:GTX)

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