Loomis Sayles & Co. L P Has $11.61 Million Stock Position in Garrett Motion Inc. (NYSE:GTX)

Loomis Sayles & Co. L P increased its holdings in Garrett Motion Inc. (NYSE:GTX) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,419,485 shares of the company’s stock after acquiring an additional 70,246 shares during the period. Loomis Sayles & Co. L P’s holdings in Garrett Motion were worth $11,611,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Covestor Ltd purchased a new stake in shares of Garrett Motion during the third quarter worth $28,000. Quarry LP increased its holdings in Garrett Motion by 54.8% in the second quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after buying an additional 1,830 shares during the last quarter. Gladius Capital Management LP acquired a new position in Garrett Motion in the third quarter worth approximately $58,000. nVerses Capital LLC bought a new position in Garrett Motion during the second quarter valued at approximately $67,000. Finally, Caprock Group LLC acquired a new stake in Garrett Motion in the second quarter valued at approximately $103,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, SVP Thierry Mabru sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total transaction of $373,500.00. Following the completion of the sale, 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 26.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Garrett Motion Price Performance

NYSE GTX opened at $8.37 on Thursday. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $10.16. The stock’s 50-day moving average is $7.95 and its two-hundred day moving average is $8.38. The firm has a market cap of $1.79 billion, a P/E ratio of 8.21 and a beta of 1.17.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share 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 net margin of 6.54% and a negative return on equity of 31.48%. During the same period in the previous year, the business posted $0.23 earnings per share. On average, equities analysts expect that Garrett Motion Inc. will post 1.08 EPS for the current year.

Garrett Motion 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.