Thierry Mabru Sells 50,000 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) SVP Thierry Mabru sold 50,000 shares of Garrett Motion stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Garrett Motion Stock Up 1.6 %

Shares of GTX stock opened at $7.55 on Friday. The firm has a 50 day moving average of $8.02 and a two-hundred day moving average of $8.59. The stock has a market capitalization of $1.61 billion, a PE ratio of 7.40 and a beta of 1.15. Garrett Motion Inc. has a 52 week low of $7.13 and a 52 week high of $10.16.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, October 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $854.00 million. During the same quarter last year, the business posted $0.23 earnings per share. Analysts expect that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Garrett Motion

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd purchased a new position in Garrett Motion in the third quarter worth approximately $28,000. Quarry LP lifted 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 last quarter. nVerses Capital LLC purchased a new stake in shares of Garrett Motion during the 2nd quarter worth $67,000. Caprock Group LLC acquired a new position in shares of Garrett Motion during the second quarter worth $103,000. Finally, SG Americas Securities LLC purchased a new position in Garrett Motion in the second quarter valued at $118,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Garrett Motion

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.