Aigen Investment Management LP Purchases New Position in Garrett Motion Inc. (NYSE:GTX)

Aigen Investment Management LP acquired a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,993 shares of the company’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently modified their holdings of GTX. Raymond James & Associates acquired a new position in shares of Garrett Motion during the third quarter worth $281,000. Bank of New York Mellon Corp boosted 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 valued at $699,000 after buying an additional 42,376 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Garrett Motion by 83.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,738 shares of the company’s stock valued at $92,000 after buying an additional 5,328 shares during the last quarter. Seizert Capital Partners LLC acquired a new stake in shares of Garrett Motion during the third quarter valued at about $1,738,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Garrett Motion by 7.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 66,473 shares of the company’s stock worth $524,000 after acquiring an additional 4,533 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of the business’s stock in a transaction on Monday, April 8th. The shares were 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 $275,026,137.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $9.96, for a total value of $580,727.76. Following the sale, the insider now owns 27,613,066 shares of the company’s stock, valued at approximately $275,026,137.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the business’s 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 owns 15,236,484 shares of the company’s stock, valued at approximately $137,128,356. The disclosure for this sale can be found here. Insiders sold a total of 10,931,333 shares of company stock valued at $99,285,698 over the last three months. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

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.

Garrett Motion Price Performance

GTX stock opened at $9.01 on Friday. The firm has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $8.98. Garrett Motion Inc. has a twelve month low of $6.43 and a twelve month high of $10.16.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. The company had revenue of $915.00 million during the quarter, compared to analyst estimates of $938.00 million. Garrett Motion had a net margin of 6.42% and a negative return on equity of 35.33%. On average, equities analysts anticipate that Garrett Motion Inc. will post 1.12 earnings per share 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.