Garrett Motion Inc. (NYSE:GTX) Shares Sold by State Street Corp

State Street Corp trimmed its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 7.2% during the third quarter, Holdings Channel reports. The firm owned 856,003 shares of the company’s stock after selling 66,758 shares during the period. State Street Corp’s holdings in Garrett Motion were worth $7,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Readystate Asset Management LP acquired a new position in Garrett Motion during the 3rd quarter valued at approximately $539,000. HighTower Advisors LLC lifted its stake in Garrett Motion by 85.4% in the third quarter. HighTower Advisors LLC now owns 27,221 shares of the company’s stock valued at $217,000 after buying an additional 12,542 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Garrett Motion during the third quarter valued at $431,000. Paloma Partners Management Co bought a new position in shares of Garrett Motion during the third quarter worth about $87,000. Finally, Maverick Capital Ltd. grew its position in shares of Garrett Motion by 27.5% during the third quarter. Maverick Capital Ltd. now owns 215,531 shares of the company’s stock worth $1,763,000 after acquiring an additional 46,470 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Thierry Mabru sold 50,000 shares of the 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 completion of the sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, BWS Financial reissued 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 Price Performance

Shares of GTX stock opened at $8.96 on Friday. Garrett Motion Inc. has a 12-month low of $7.13 and a 12-month high of $10.16. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 8.78 and a beta of 1.16. The business has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $8.37.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). The business had revenue of $826.00 million for 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 period last year, the business posted $0.23 earnings per share. On average, equities analysts anticipate that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.06 per share. This represents a dividend yield of 2.7%. The ex-dividend date is Wednesday, January 15th. Garrett Motion’s dividend payout ratio (DPR) is presently 23.53%.

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.