Wittenberg Investment Management Inc. Has $3.96 Million Stock Position in Garrett Motion Inc. (NYSE:GTX)

Wittenberg Investment Management Inc. boosted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 484,337 shares of the company’s stock after acquiring an additional 14,200 shares during the period. Garrett Motion makes up approximately 1.3% of Wittenberg Investment Management Inc.’s holdings, making the stock its 15th biggest holding. Wittenberg Investment Management Inc.’s holdings in Garrett Motion were worth $3,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTX. Quarry LP raised its position in shares of Garrett Motion by 54.8% during the second quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after acquiring an additional 1,830 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its position in Garrett Motion by 2.2% during the 2nd 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 during the period. Entropy Technologies LP boosted its stake in shares of Garrett Motion by 17.0% in the 3rd quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock valued at $147,000 after purchasing an additional 2,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Garrett Motion by 17.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock worth $174,000 after buying an additional 2,933 shares during the period. Finally, Covestor Ltd bought a new stake in shares of Garrett Motion during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a research note on Friday, October 25th.

Garrett Motion Trading Up 1.3 %

NYSE GTX opened at $8.31 on Monday. Garrett Motion Inc. has a 12 month low of $7.13 and a 12 month high of $10.16. The stock has a 50-day simple moving average of $7.94 and a 200 day simple moving average of $8.40. The company has a market capitalization of $1.77 billion, a PE ratio of 8.15 and a beta of 1.17.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, October 24th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.06). Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. The firm had revenue of $826.00 million during the quarter, compared to the consensus estimate of $854.00 million. During the same period in the previous year, the company posted $0.23 EPS. As a group, sell-side analysts predict that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Thierry Mabru sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total value of $373,500.00. Following the completion of the transaction, the senior vice president now owns 140,509 shares in the company, valued at $1,049,602.23. This represents a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.