Gladius Capital Management LP Invests $58,000 in Garrett Motion Inc. (NYSE:GTX)

Gladius Capital Management LP purchased a new position in Garrett Motion Inc. (NYSE:GTX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,124 shares of the company’s stock, valued at approximately $58,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Seizert Capital Partners LLC raised its stake in shares of Garrett Motion by 76.6% in the third quarter. Seizert Capital Partners LLC now owns 659,132 shares of the company’s stock valued at $5,392,000 after acquiring an additional 285,918 shares during the period. Royce & Associates LP raised its position in Garrett Motion by 7.1% in the 3rd quarter. Royce & Associates LP now owns 1,649,218 shares of the company’s stock worth $13,491,000 after purchasing an additional 109,430 shares during the period. Lummis Asset Management LP lifted its stake in Garrett Motion by 49.1% in the third quarter. Lummis Asset Management LP now owns 175,150 shares of the company’s stock worth $1,433,000 after purchasing an additional 57,702 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Garrett Motion by 3.3% during the third quarter. Victory Capital Management Inc. now owns 1,225,850 shares of the company’s stock valued at $10,027,000 after buying an additional 38,852 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Garrett Motion during the third quarter valued at approximately $116,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Garrett Motion 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 value of $373,500.00. Following the completion of the sale, the senior vice president now directly owns 140,509 shares in the company, valued at approximately $1,049,602.23. This represents a 26.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Garrett Motion Trading Up 0.6 %

NYSE GTX opened at $7.85 on Friday. The stock has a market cap of $1.68 billion, a PE ratio of 7.70 and a beta of 1.17. Garrett Motion Inc. has a 12 month low of $7.13 and a 12 month high of $10.16. The company’s 50-day moving average price is $7.92 and its 200-day moving average price is $8.46.

Garrett Motion (NYSE:GTX) last issued its 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 company had revenue of $826.00 million during the quarter, compared to the consensus estimate of $854.00 million. Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, sell-side analysts forecast that Garrett Motion Inc. will post 1.08 earnings per share for the current year.

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.