Garrett Motion Inc. (NYSE:GTX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 3.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 38,696 shares of the company’s stock after selling 1,424 shares during the period. The Manufacturers Life Insurance Company’s holdings in Garrett Motion were worth $317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd acquired a new position in shares of Garrett Motion during the third quarter worth about $28,000. Quarry LP lifted its stake in 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 purchasing an additional 1,830 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Garrett Motion during the third quarter worth approximately $58,000. nVerses Capital LLC purchased a new stake in Garrett Motion during the second quarter worth approximately $67,000. Finally, Caprock Group LLC purchased a new stake in Garrett Motion during the second quarter worth approximately $103,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Garrett Motion

In related news, SVP Thierry Mabru sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was 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 $1,049,602.23. This represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Garrett Motion Trading Down 1.0 %

Shares of NYSE GTX opened at $9.50 on Monday. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.16. The stock has a 50 day moving average of $8.15 and a two-hundred day moving average of $8.36. The stock has a market cap of $2.03 billion, a P/E ratio of 9.31 and a beta of 1.16.

Garrett Motion (NYSE:GTX) last released its quarterly 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 negative return on equity of 31.48% and a net margin of 6.54%. The company had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $854.00 million. During the same quarter last year, the company earned $0.23 EPS. As a group, research analysts predict that Garrett Motion Inc. will post 1.08 earnings per share for the current year.

Garrett Motion Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.06 per share. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 15th.

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.