Raymond James & Associates Sells 8,213 Shares of Garrett Motion Inc. (NYSE:GTX)

Raymond James & Associates cut its stake in Garrett Motion Inc. (NYSE:GTX) by 23.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,477 shares of the company’s stock after selling 8,213 shares during the period. Raymond James & Associates’ holdings in Garrett Motion were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Garrett Motion by 91.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 88,757 shares of the company’s stock worth $699,000 after purchasing an additional 42,376 shares during the last quarter. Bailard Inc. bought a new position in Garrett Motion in the third quarter valued at about $363,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Garrett Motion by 83.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,738 shares of the company’s stock worth $92,000 after purchasing an additional 5,328 shares during the period. Altfest L J & Co. Inc. bought a new stake in Garrett Motion during the 3rd quarter worth about $79,000. Finally, Towerview LLC raised its holdings in Garrett Motion by 81.2% during the 3rd quarter. Towerview LLC now owns 140,000 shares of the company’s stock worth $1,103,000 after purchasing an additional 62,725 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the completion of the transaction, the insider now directly owns 15,236,484 shares of the company’s stock, valued at $137,128,356. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $9.35, for a total value of $1,870,000.00. Following the sale, the insider now owns 29,327,284 shares of the company’s stock, valued at $274,210,105.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $9.00, for a total value of $90,000,000.00. Following the transaction, the insider now directly owns 15,236,484 shares of the company’s stock, valued at $137,128,356. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,161,193 shares of company stock valued at $101,430,410. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and set a $15.00 price target on shares of Garrett Motion in a research note on Monday, April 8th.

Garrett Motion Trading Down 0.8 %

Garrett Motion stock opened at $9.75 on Tuesday. The firm has a market capitalization of $2.22 billion, a P/E ratio of -8.48 and a beta of 1.31. The business has a 50-day moving average of $9.65 and a 200-day moving average of $8.72. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16.

Garrett Motion (NYSE:GTX) last posted its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $945.00 million for the quarter, compared to analyst estimates of $949.00 million. Garrett Motion had a net margin of 6.42% and a negative return on equity of 35.33%. Research analysts anticipate that Garrett Motion Inc. will post 1.05 EPS for the current fiscal year.

Garrett Motion Company 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.