Pekin Hardy Strauss Inc. Buys 60,600 Shares of Garrett Motion Inc. (NYSE:GTX)

Pekin Hardy Strauss Inc. increased its stake in Garrett Motion Inc. (NYSE:GTX) by 63.9% in the 3rd quarter, Holdings Channel reports. The firm owned 155,450 shares of the company’s stock after purchasing an additional 60,600 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Garrett Motion were worth $1,272,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in GTX. Covestor Ltd acquired a new stake in shares of Garrett Motion in the third quarter worth $28,000. Quarry LP raised its holdings in Garrett Motion by 54.8% in the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after acquiring an additional 1,830 shares during the period. Gladius Capital Management LP acquired a new position in Garrett Motion during the 3rd quarter worth $58,000. nVerses Capital LLC acquired a new stake in shares of Garrett Motion in the second quarter valued at about $67,000. Finally, Caprock Group LLC bought a new position in shares of Garrett Motion in the second quarter worth about $103,000. Institutional investors own 86.27% of the company’s stock.

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 stock was sold at an average price of $7.47, for a total transaction of $373,500.00. Following the sale, the senior vice president now owns 140,509 shares of the company’s stock, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Garrett Motion Trading Up 1.3 %

Shares of GTX stock opened at $8.31 on Friday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 8.15 and a beta of 1.17. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.16. The firm’s fifty day simple moving average is $7.94 and its 200 day simple moving average is $8.40.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $826.00 million for the quarter, compared to the consensus estimate of $854.00 million. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities research analysts anticipate that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and set a $12.00 target price on shares of Garrett Motion in a research note 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.