GW&K Investment Management LLC Sells 57,125 Shares of Garrett Motion Inc. (NYSE:GTX)

GW&K Investment Management LLC lessened its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,326,534 shares of the company’s stock after selling 57,125 shares during the quarter. GW&K Investment Management LLC owned approximately 0.96% of Garrett Motion worth $22,498,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Jump Financial LLC raised its holdings in Garrett Motion by 1,332.1% in the 4th quarter. Jump Financial LLC now owns 187,600 shares of the company’s stock valued at $1,814,000 after acquiring an additional 174,500 shares during the period. Towerview LLC lifted its holdings in Garrett Motion by 81.2% during the 3rd quarter. Towerview LLC now owns 140,000 shares of the company’s stock worth $1,103,000 after purchasing an additional 62,725 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 1,341,535 shares during the period. Swiss National Bank grew its holdings in 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 in the last quarter. Finally, Seizert Capital Partners LLC increased its position in Garrett Motion by 69.3% during the 4th quarter. Seizert Capital Partners LLC now owns 373,441 shares of the company’s stock worth $3,611,000 after buying an additional 152,854 shares during the period. Institutional investors own 86.27% of the company’s stock.

Insider Activity

In other Garrett Motion news, 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 value of $90,000,000.00. Following the sale, the insider now owns 15,236,484 shares of the company’s stock, valued at approximately $137,128,356. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the company’s stock in a transaction that occurred 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 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 the SEC website. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 owns 15,236,484 shares in the company, valued at approximately $137,128,356. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,131,333 shares of company stock worth $101,155,698. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Garrett Motion Stock Performance

Shares of NYSE GTX traded down $0.12 during midday trading on Wednesday, reaching $8.98. The company’s stock had a trading volume of 192,182 shares, compared to its average volume of 1,033,568. The company has a market cap of $2.03 billion, a P/E ratio of -7.91 and a beta of 1.27. Garrett Motion Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $10.16. The business’s 50 day moving average price is $9.62 and its two-hundred day moving average price is $8.96.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. The company had revenue of $915.00 million for the quarter, compared to analysts’ expectations of $938.00 million. Sell-side analysts forecast that Garrett Motion Inc. will post 1.12 earnings per share for the current fiscal year.

About Garrett Motion

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.