Quest Partners LLC Trims Holdings in Garrett Motion Inc. (NYSE:GTX)

Quest Partners LLC cut its stake in Garrett Motion Inc. (NYSE:GTX) by 50.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,946 shares of the company’s stock after selling 57,870 shares during the period. Quest Partners LLC’s holdings in Garrett Motion were worth $466,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GTX. Covestor Ltd bought a new position in Garrett Motion in the 3rd quarter worth about $28,000. Quarry LP grew its stake 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. Gladius Capital Management LP bought a new stake in Garrett Motion during the 3rd quarter valued at $58,000. nVerses Capital LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter worth $67,000. Finally, Caprock Group LLC bought a new position in shares of Garrett Motion during the 2nd quarter worth $103,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Up 1.3 %

Shares of GTX stock opened at $8.31 on Friday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 8.15 and a beta of 1.17. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.16. The company’s 50 day moving average is $7.94 and its 200 day moving average is $8.40.

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 during the quarter, compared to the consensus estimate of $854.00 million. During the same period in the previous year, the firm posted $0.23 earnings per share. Analysts anticipate that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In other news, SVP Thierry Mabru sold 50,000 shares of Garrett Motion stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total value 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. The trade was a 26.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

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

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.