Garrett Motion Inc. (NYSE:GTX) Stock Position Lifted by Verition Fund Management LLC

Verition Fund Management LLC grew its position in shares of Garrett Motion Inc. (NYSE:GTX) by 138.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,528 shares of the company’s stock after buying an additional 26,428 shares during the period. Verition Fund Management LLC’s holdings in Garrett Motion were worth $372,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Covestor Ltd bought a new position in Garrett Motion during the 3rd quarter worth approximately $28,000. Quarry LP raised its position in shares of Garrett Motion by 54.8% during the 2nd 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 period. Gladius Capital Management LP acquired a new stake in shares of Garrett Motion during the 3rd quarter worth approximately $58,000. nVerses Capital LLC acquired a new stake in shares of Garrett Motion during the 2nd quarter worth approximately $67,000. Finally, Caprock Group LLC acquired a new stake in shares of Garrett Motion during the 2nd quarter worth approximately $103,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Trading Up 3.0 %

Shares of Garrett Motion stock opened at $9.60 on Friday. The business’s 50 day simple moving average is $8.12 and its 200-day simple moving average is $8.36. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 9.41 and a beta of 1.16. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.16.

Garrett Motion (NYSE:GTX) last posted its 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 net margin of 6.54% and a negative return on equity of 31.48%. The business had revenue of $826.00 million during the quarter, compared to analyst estimates of $854.00 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Sell-side analysts predict that Garrett Motion Inc. will post 1.08 earnings per share for the current year.

Garrett Motion Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $0.06 dividend. This represents a yield of 2.7%. The ex-dividend date is Wednesday, January 15th.

Analyst Upgrades and Downgrades

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

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of the 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 completion of the transaction, the senior vice president now directly owns 140,509 shares of the company’s stock, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

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.