Garrett Motion Inc. (NYSE:GTX - Free Report) - BWS Financial decreased their Q1 2024 earnings per share estimates for shares of Garrett Motion in a research note issued to investors on Monday, April 8th. BWS Financial analyst H. Khorsand now expects that the company will earn $0.22 per share for the quarter, down from their prior estimate of $0.24. BWS Financial has a "Buy" rating and a $15.00 price target on the stock. The consensus estimate for Garrett Motion's current full-year earnings is $1.09 per share. BWS Financial also issued estimates for Garrett Motion's Q4 2024 earnings at $0.27 EPS and FY2024 earnings at $1.05 EPS.
Garrett Motion Price Performance
GTX stock traded down $0.08 during trading on Thursday, hitting $9.85. The stock had a trading volume of 630,503 shares, compared to its average volume of 1,048,914. Garrett Motion has a twelve month low of $6.43 and a twelve month high of $10.16. The company's 50-day moving average price is $9.46 and its two-hundred day moving average price is $8.54. The stock has a market capitalization of $2.35 billion, a P/E ratio of -7.58 and a beta of 1.31.
Garrett Motion (NYSE:GTX - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $945.00 million for the quarter, compared to analyst estimates of $949.00 million. Garrett Motion had a net margin of 6.72% and a negative return on equity of 49.01%.
Institutional Investors Weigh In On Garrett Motion
Several hedge funds and other institutional investors have recently bought and sold shares of GTX. Stifel Financial Corp raised its position in shares of Garrett Motion by 2.5% during the 2nd quarter. Stifel Financial Corp now owns 52,365 shares of the company's stock valued at $396,000 after buying an additional 1,287 shares during the period. UBS Group AG raised its position in Garrett Motion by 11.9% in the third quarter. UBS Group AG now owns 13,458 shares of the company's stock valued at $76,000 after purchasing an additional 1,436 shares during the period. XTX Topco Ltd lifted its stake in shares of Garrett Motion by 8.4% in the 1st quarter. XTX Topco Ltd now owns 33,326 shares of the company's stock valued at $255,000 after purchasing an additional 2,575 shares during the last quarter. Comerica Bank grew its holdings in shares of Garrett Motion by 238.0% during the 4th quarter. Comerica Bank now owns 3,677 shares of the company's stock worth $36,000 after purchasing an additional 2,589 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Garrett Motion by 4.6% during the 1st quarter. Bank of Montreal Can now owns 60,144 shares of the company's stock worth $441,000 after purchasing an additional 2,651 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the sale, the insider now owns 29,327,284 shares of the company's stock, valued at $274,210,105.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Garrett Motion news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the transaction, the insider now owns 15,236,484 shares of the company's stock, valued at $137,128,356. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.35, for a total value of $1,870,000.00. Following the completion of the sale, the insider now directly owns 29,327,284 shares of the company's stock, valued at $274,210,105.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,161,193 shares of company stock worth $101,430,410. 37.08% of the stock is owned by corporate insiders.
About Garrett Motion
(
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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.
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