Baker Ellis Asset Management LLC Lowers Holdings in Garrett Motion Inc. (NYSE:GTX)

Baker Ellis Asset Management LLC decreased its position in Garrett Motion Inc. (NYSE:GTX) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 232,372 shares of the company’s stock after selling 5,853 shares during the period. Baker Ellis Asset Management LLC owned 0.10% of Garrett Motion worth $2,310,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Garrett Motion in the third quarter valued at approximately $43,000. Financial Management Professionals Inc. bought a new position in Garrett Motion in the fourth quarter worth approximately $82,000. Quent Capital LLC raised its stake in Garrett Motion by 27,500.0% in the fourth quarter. Quent Capital LLC now owns 11,040 shares of the company’s stock worth $107,000 after buying an additional 11,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Garrett Motion in the fourth quarter worth approximately $113,000. Finally, Citigroup Inc. raised its stake in Garrett Motion by 152.8% in the third quarter. Citigroup Inc. now owns 14,158 shares of the company’s stock worth $112,000 after buying an additional 8,558 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Performance

NYSE:GTX traded up $0.11 during trading hours on Friday, reaching $8.59. The company’s stock had a trading volume of 1,012,568 shares, compared to its average volume of 874,714. The stock has a 50 day moving average price of $9.09 and a two-hundred day moving average price of $9.18. The company has a market capitalization of $1.94 billion, a P/E ratio of -7.47 and a beta of 1.19. Garrett Motion Inc. has a 12 month low of $6.43 and a 12 month high of $10.16.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The business had revenue of $915.00 million for the quarter, compared to the consensus estimate of $938.00 million. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. As a group, analysts predict that Garrett Motion Inc. will post 1.12 EPS for the current fiscal year.

Insider Transactions at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 163,027 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $10.00, for a total transaction of $1,630,270.00. Following the transaction, the insider now directly owns 27,671,372 shares of the company’s stock, valued at $276,713,720. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and issued a $15.00 price objective on shares of Garrett Motion in a research note on Monday, June 3rd.

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.