Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $37,827.79 in Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of Garrett Motion 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 sale, the insider now directly owns 27,337,398 shares in the company, valued at $273,647,353.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Garrett Motion Stock Down 1.9 %

NYSE GTX opened at $9.12 on Thursday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -7.93 and a beta of 1.21. Garrett Motion Inc. has a twelve month low of $6.43 and a twelve month high of $10.16. The stock has a fifty day simple moving average of $8.92 and a 200 day simple moving average of $9.20.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.28 EPS for the quarter, beating 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 firm had revenue of $915.00 million for the quarter, compared to analyst estimates of $938.00 million. Research analysts expect that Garrett Motion Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Garrett Motion

Several institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its position in shares of Garrett Motion by 27,500.0% in the 4th quarter. Quent Capital LLC now owns 11,040 shares of the company’s stock worth $107,000 after purchasing an additional 11,000 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Garrett Motion during the fourth quarter worth $113,000. Prairiewood Capital LLC acquired a new position in Garrett Motion in the first quarter valued at $135,000. SG Americas Securities LLC bought a new stake in Garrett Motion during the second quarter valued at $118,000. Finally, Citigroup Inc. boosted its position in Garrett Motion by 152.8% during the third quarter. Citigroup Inc. now owns 14,158 shares of the company’s stock valued at $112,000 after acquiring an additional 8,558 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $15.00 target price on shares of Garrett Motion in a research report on Monday, June 3rd.

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.