Garrett Motion Inc. (NYSE:GTX – Get Rating) – Analysts at BWS Financial dropped their Q3 2023 EPS estimates for shares of Garrett Motion in a report released on Wednesday, June 14th. BWS Financial analyst H. Khorsand now expects that the company will post earnings per share of $0.22 for the quarter, down from their prior estimate of $0.25. The consensus estimate for Garrett Motion’s current full-year earnings is $1.00 per share. BWS Financial also issued estimates for Garrett Motion’s Q4 2023 earnings at $0.25 EPS.
Garrett Motion Stock Up 0.8 %
GTX opened at $7.60 on Friday. The firm has a market cap of $494.76 million, a price-to-earnings ratio of 10.56 and a beta of 1.30. Garrett Motion has a 52 week low of $5.57 and a 52 week high of $8.68. The business’s 50 day moving average is $8.11 and its two-hundred day moving average is $7.84.
Insider Activity
In other news, major shareholder Cyrus Capital Partners, L.P. sold 108,418 shares of the business’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $8.32, for a total transaction of $902,037.76. Following the transaction, the insider now directly owns 10,111,836 shares in the company, valued at $84,130,475.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 108,418 shares of the stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $8.32, for a total transaction of $902,037.76. Following the sale, the insider now owns 10,111,836 shares in the company, valued at approximately $84,130,475.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Baupost Group Llc/Ma sold 1,025,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $7.55, for a total value of $7,738,750.00. Following the completion of the sale, the insider now owns 26,570,589 shares in the company, valued at $200,607,946.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,829,994 shares of company stock valued at $22,449,408. Company insiders own 37.08% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new position in shares of Garrett Motion during the first quarter worth $35,000. Quantbot Technologies LP acquired a new stake in Garrett Motion during the second quarter valued at approximately $37,000. Close Asset Management Ltd acquired a new stake in Garrett Motion during the fourth quarter valued at approximately $66,000. UBS Group AG raised its holdings in shares of Garrett Motion by 11.9% during the third quarter. UBS Group AG now owns 13,458 shares of the company’s stock worth $76,000 after purchasing an additional 1,436 shares during the period. Finally, DGS Capital Management LLC acquired a new stake in shares of Garrett Motion during the first quarter worth $80,000. Institutional investors and hedge funds own 72.67% of the company’s stock.
About Garrett Motion
Garrett Motion, Inc provides automobile technology. The firm engages in the design, manufacture, and sale of engineered turbocharger, electric-boosting technologies for light and commercial vehicle original equipment manufacturers (OEMs) and the global vehicle independent aftermarket as well as automotive software solutions.
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