Zurcher Kantonalbank Zurich Cantonalbank Buys 11,804 Shares of Garrett Motion Inc. (NYSE:GTX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 100.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,542 shares of the company’s stock after purchasing an additional 11,804 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Garrett Motion were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Hawk Ridge Capital Management LP lifted its holdings in Garrett Motion by 8.8% during the third quarter. Hawk Ridge Capital Management LP now owns 7,328,854 shares of the company’s stock valued at $57,751,000 after purchasing an additional 593,300 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Garrett Motion by 152.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,224,144 shares of the company’s stock worth $17,526,000 after buying an additional 1,341,535 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Garrett Motion by 15.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,068,393 shares of the company’s stock worth $16,299,000 after buying an additional 274,204 shares during the period. 683 Capital Management LLC purchased a new position in Garrett Motion in the 3rd quarter valued at approximately $11,032,000. Finally, Gabelli Funds LLC raised its holdings in Garrett Motion by 2.1% during the 3rd quarter. Gabelli Funds LLC now owns 986,398 shares of the company’s stock valued at $7,773,000 after acquiring an additional 20,692 shares during the period. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Trading Down 1.5 %

GTX stock opened at $9.35 on Tuesday. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -8.13 and a beta of 1.27. The company’s 50 day moving average is $9.67 and its 200 day moving average is $8.78.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $945.00 million for the quarter, compared to analysts’ expectations of $949.00 million. Garrett Motion had a net margin of 6.42% and a negative return on equity of 35.33%. As a group, sell-side analysts forecast that Garrett Motion Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Garrett Motion

In related news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of Garrett Motion stock in a transaction 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 sale, the insider now owns 15,236,484 shares in the company, valued at $137,128,356. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $9.00, for a total value of $90,000,000.00. Following the sale, the insider now directly owns 15,236,484 shares of the company’s stock, valued at approximately $137,128,356. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $9.96, for a total transaction of $580,727.76. Following the completion of the sale, the insider now owns 27,613,066 shares in the company, valued at approximately $275,026,137.36. The disclosure for this sale can be found here. Insiders sold a total of 11,161,193 shares of company stock worth $101,430,410 over the last quarter. 0.60% of the stock is owned by corporate insiders.

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.