Segall Bryant & Hamill LLC purchased a new position in shares of Garrett Motion Inc (NYSE:GTX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,670 shares of the company’s stock, valued at approximately $169,000.
Other institutional investors have also modified their holdings of the company. Municipal Employees Retirement System of Michigan bought a new stake in Garrett Motion in the 4th quarter valued at $265,000. Gotham Asset Management LLC bought a new stake in Garrett Motion in the 4th quarter valued at $755,000. Metropolitan Life Insurance Co. NY bought a new stake in Garrett Motion in the 4th quarter valued at $53,000. Gates Capital Management Inc. increased its holdings in Garrett Motion by 205.3% in the 4th quarter. Gates Capital Management Inc. now owns 2,239,475 shares of the company’s stock valued at $27,635,000 after acquiring an additional 1,505,876 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Garrett Motion in the 4th quarter valued at $1,197,000. Institutional investors and hedge funds own 83.19% of the company’s stock.
GTX has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Friday, January 4th. Desjardins cut shares of Garrett Motion to a “buy” rating in a research note on Wednesday, January 23rd. Jefferies Financial Group initiated coverage on shares of Garrett Motion in a research note on Tuesday, December 4th. They issued a “hold” rating and a $13.00 price objective for the company. Barclays set a $14.00 price objective on shares of Garrett Motion and gave the stock a “hold” rating in a research note on Friday, January 4th. Finally, Royal Bank of Canada raised shares of Garrett Motion from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $11.00 to $15.00 in a research note on Wednesday, January 23rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.00.
Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Wednesday, February 20th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $781.48 million. Garrett Motion’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Garrett Motion Inc will post 3.3 earnings per share for the current fiscal year.
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Garrett Motion Profile
Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company was incorporated in 2018 and is headquartered in Rolle, Switzerland.
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