Garrett Motion Inc. (NYSE:GTX) Stock Position Raised by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 63.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,450 shares of the company’s stock after purchasing an additional 60,600 shares during the period. Pekin Hardy Strauss Inc. owned approximately 0.07% of Garrett Motion worth $1,272,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Covestor Ltd purchased a new position in Garrett Motion in the 3rd quarter worth about $28,000. Quarry LP raised its holdings in shares of Garrett Motion by 54.8% during the second quarter. Quarry LP now owns 5,170 shares of the company’s stock valued at $44,000 after acquiring an additional 1,830 shares during the period. Gladius Capital Management LP acquired a new stake in shares of Garrett Motion during the third quarter valued at approximately $58,000. nVerses Capital LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $67,000. Finally, Caprock Group LLC purchased a new position in Garrett Motion during the 2nd quarter worth approximately $103,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Price Performance

NYSE:GTX opened at $8.31 on Friday. The stock’s 50-day moving average is $7.94 and its two-hundred day moving average is $8.40. The stock has a market cap of $1.77 billion, a PE ratio of 8.15 and a beta of 1.17. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $10.16.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.06). The company had revenue of $826.00 million during the quarter, compared to analyst estimates of $854.00 million. Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. During the same quarter in the prior year, the company posted $0.23 EPS. On average, equities research analysts anticipate that Garrett Motion Inc. will post 1.08 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Thierry Mabru sold 50,000 shares of the firm’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 transaction of $373,500.00. Following the transaction, the senior vice president now owns 140,509 shares of the company’s stock, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and issued a $12.00 target price on shares of Garrett Motion in a report on Friday, October 25th.

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.