Gamco Investors INC. ET AL Sells 13,204 Shares of Garrett Motion Inc. (NYSE:GTX)

Gamco Investors INC. ET AL cut its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041,224 shares of the company’s stock after selling 13,204 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.90% of Garrett Motion worth $20,290,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Hawk Ridge Capital Management LP boosted its stake in shares of Garrett Motion by 2.1% during the 4th quarter. Hawk Ridge Capital Management LP now owns 7,485,692 shares of the company’s stock worth $72,387,000 after buying an additional 156,838 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Garrett Motion by 168.3% during the 1st quarter. William Blair Investment Management LLC now owns 6,888,152 shares of the company’s stock worth $68,468,000 after buying an additional 4,320,406 shares during the last quarter. Prevatt Capital Ltd acquired a new position in shares of Garrett Motion during the 4th quarter worth about $24,188,000. Vanguard Group Inc. boosted its stake in shares of Garrett Motion by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 2,462,714 shares of the company’s stock worth $24,479,000 after buying an additional 39,375 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Garrett Motion by 1.7% during the 4th quarter. Gabelli Funds LLC now owns 1,003,056 shares of the company’s stock worth $9,700,000 after buying an additional 16,658 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, BWS Financial dropped their target price on shares of Garrett Motion from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday.

Garrett Motion Stock Up 8.7 %

Shares of GTX stock traded up $0.70 on Friday, reaching $8.76. The stock had a trading volume of 1,888,893 shares, compared to its average volume of 837,781. The firm’s 50-day moving average is $8.88 and its two-hundred day moving average is $9.19. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -7.62 and a beta of 1.21. Garrett Motion Inc. has a 12 month low of $6.43 and a 12 month high of $10.16.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. The company had revenue of $915.00 million for the quarter, compared to analysts’ expectations of $938.00 million. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. On average, sell-side analysts forecast that Garrett Motion Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $10.01, for a total value of $37,827.79. Following the transaction, the insider now directly owns 27,337,398 shares of the company’s stock, valued at approximately $273,647,353.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

Garrett Motion 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.