Employees Retirement System of Texas purchased a new position in Garrett Motion Inc (NYSE:GTX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,200 shares of the company’s stock, valued at approximately $39,000.
Several other institutional investors and hedge funds also recently modified their holdings of GTX. Northern Trust Corp lifted its position in Garrett Motion by 2,684.4% in the 4th quarter. Northern Trust Corp now owns 440,915 shares of the company’s stock valued at $5,441,000 after acquiring an additional 425,080 shares in the last quarter. Van ECK Associates Corp bought a new position in Garrett Motion in the 4th quarter valued at approximately $31,000. Citigroup Inc. lifted its position in Garrett Motion by 45,463.6% in the 4th quarter. Citigroup Inc. now owns 35,084 shares of the company’s stock valued at $432,000 after acquiring an additional 35,007 shares in the last quarter. Aviva PLC bought a new position in Garrett Motion in the 4th quarter valued at approximately $343,000. Finally, Advisor Group Inc. bought a new position in Garrett Motion in the 4th quarter valued at approximately $76,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Garrett Motion from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Jefferies Financial Group reiterated a “hold” rating and set a $17.00 target price on shares of Garrett Motion in a research note on Thursday, February 21st. Barclays reiterated a “hold” rating on shares of Garrett Motion in a research note on Thursday, February 21st. Desjardins lowered shares of Garrett Motion to a “buy” rating in a research note on Wednesday, January 23rd. Finally, Royal Bank of Canada upgraded shares of Garrett Motion from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $11.00 to $15.00 in a research note on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Garrett Motion presently has an average rating of “Hold” and an average target price of $15.00.
Garrett Motion (NYSE:GTX) last announced its earnings results on Wednesday, February 20th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $799.00 million for the quarter, compared to analysts’ expectations of $781.48 million. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that Garrett Motion Inc will post 3.3 earnings per share for the current 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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