Garrett Motion Inc (GTX) Holdings Increased by Eos Focused Equity Management L.P.
Eos Focused Equity Management L.P. raised its stake in shares of Garrett Motion Inc (NYSE:GTX) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 191,116 shares of the company’s stock after acquiring an additional 31,834 shares during the period. Garrett Motion makes up 3.7% of Eos Focused Equity Management L.P.’s investment portfolio, making the stock its 9th biggest holding. Eos Focused Equity Management L.P.’s holdings in Garrett Motion were worth $2,815,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of GTX. BlackRock Inc. raised its stake in Garrett Motion by 1,389,042.2% during the 4th quarter. BlackRock Inc. now owns 8,682,139 shares of the company’s stock valued at $107,137,000 after acquiring an additional 8,681,514 shares during the last quarter. Gates Capital Management Inc. raised its stake in shares of Garrett Motion by 205.3% during the 4th quarter. Gates Capital Management Inc. now owns 2,239,475 shares of the company’s stock worth $27,635,000 after buying an additional 1,505,876 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Garrett Motion by 619.7% during the 4th quarter. Bank of New York Mellon Corp now owns 865,663 shares of the company’s stock worth $10,682,000 after buying an additional 745,383 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Garrett Motion during the 4th quarter worth approximately $7,416,000. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Garrett Motion during the 4th quarter worth approximately $6,832,000. 81.51% of the stock is owned by hedge funds and other institutional investors.
GTX has been the subject of a number of analyst reports. Royal Bank of Canada raised Garrett Motion from an “underperform” rating to a “sector perform” rating and increased their target price for the stock from $11.00 to $15.00 in a research note on Wednesday, January 23rd. Desjardins downgraded Garrett Motion to a “buy” rating in a research note on Wednesday, January 23rd. Barclays restated a “hold” rating on shares of Garrett Motion in a report on Thursday, February 21st. Jefferies Financial Group restated a “hold” rating and issued a $17.00 price target on shares of Garrett Motion in a report on Thursday, February 21st. Finally, Zacks Investment Research cut Garrett Motion from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Garrett Motion presently has an average rating of “Hold” and a consensus target price of $15.00.
Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $835.00 million during the quarter, compared to analyst estimates of $835.79 million. The business’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts expect that Garrett Motion Inc will post 3.35 earnings per share for the current year.
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About Garrett Motion
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 offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.
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