BBR Partners LLC Acquires Shares of 34,000 Garrett Motion Inc. (NYSE:GTX)

BBR Partners LLC bought a new position in shares of Garrett Motion Inc. (NYSE:GTX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 34,000 shares of the company’s stock, valued at approximately $278,000.

A number of other large investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC grew its stake in Garrett Motion by 34.4% in the second quarter. William Blair Investment Management LLC now owns 9,257,594 shares of the company’s stock worth $79,523,000 after purchasing an additional 2,369,442 shares in the last quarter. New South Capital Management Inc. grew its position in shares of Garrett Motion by 19.0% during the 3rd quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock worth $22,170,000 after buying an additional 431,779 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Garrett Motion by 1.6% during the first quarter. Vanguard Group Inc. now owns 2,462,714 shares of the company’s stock valued at $24,479,000 after buying an additional 39,375 shares during the period. Dimensional Fund Advisors LP lifted its stake in Garrett Motion by 17.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock worth $19,570,000 after acquiring an additional 335,472 shares during the period. Finally, Royce & Associates LP lifted its stake in Garrett Motion by 7.1% in the third quarter. Royce & Associates LP now owns 1,649,218 shares of the company’s stock worth $13,491,000 after acquiring an additional 109,430 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garrett Motion

In other news, SVP Thierry Mabru sold 50,000 shares of Garrett Motion stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 140,509 shares of the company’s stock, valued at $1,049,602.23. The trade was a 26.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Garrett Motion Stock Down 1.3 %

Garrett Motion stock opened at $8.37 on Thursday. The firm has a market cap of $1.79 billion, a P/E ratio of 8.21 and a beta of 1.17. The business has a fifty day moving average of $7.95 and a two-hundred day moving average of $8.38. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.16.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results 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). Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. The business had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $854.00 million. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities analysts expect that Garrett Motion Inc. will post 1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.