Handelsbanken Fonder AB Has $165,000 Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

Handelsbanken Fonder AB grew its position in Garrett Motion Inc. (NYSE:GTX) by 88.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,200 shares of the company’s stock after purchasing an additional 9,500 shares during the period. Handelsbanken Fonder AB’s holdings in Garrett Motion were worth $165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in Garrett Motion by 54.8% in the second quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after purchasing an additional 1,830 shares in the last quarter. nVerses Capital LLC bought a new stake in Garrett Motion in the 2nd quarter valued at $67,000. Caprock Group LLC acquired a new stake in Garrett Motion during the second quarter worth about $103,000. SG Americas Securities LLC bought a new stake in shares of Garrett Motion during the second quarter valued at approximately $118,000. Finally, MBB Public Markets I LLC bought a new stake in Garrett Motion in the 2nd quarter valued at $131,000. Institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a research note on Thursday, September 19th.

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $10.01, for a total transaction of $37,827.79. Following the completion of the sale, the insider now directly owns 27,337,398 shares of the company’s stock, valued at $273,647,353.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the completion of the transaction, the insider now directly owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julia Steyn sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total transaction of $122,780.00. Following the completion of the sale, the director now directly owns 53,781 shares of the company’s stock, valued at $471,659.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Garrett Motion Stock Down 0.5 %

Shares of NYSE GTX opened at $8.16 on Tuesday. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -7.10 and a beta of 1.15. Garrett Motion Inc. has a 12-month low of $6.43 and a 12-month high of $10.16. The firm’s 50-day simple moving average is $8.09 and its 200 day simple moving average is $8.77.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. The business had revenue of $890.00 million for the quarter, compared to analysts’ expectations of $950.00 million. During the same period in the prior year, the firm earned ($1.88) earnings per share. On average, equities analysts expect that Garrett Motion Inc. will post 1.13 earnings per share for the current year.

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.