Towerview LLC Has $435,000 Stock Position in Garrett Motion Inc. (NYSE:GTX)

Towerview LLC trimmed its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 67.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the company's stock after selling 95,000 shares during the quarter. Garrett Motion accounts for about 0.3% of Towerview LLC's portfolio, making the stock its 20th biggest holding. Towerview LLC's holdings in Garrett Motion were worth $435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GTX. Vanguard Group Inc. raised its holdings in Garrett Motion by 152.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,224,144 shares of the company's stock worth $17,526,000 after buying an additional 1,341,535 shares during the period. Swiss National Bank raised its holdings in Garrett Motion by 188.7% during the 3rd quarter. Swiss National Bank now owns 204,400 shares of the company's stock worth $1,611,000 after buying an additional 133,600 shares during the period. Kingsview Wealth Management LLC acquired a new stake in Garrett Motion during the 3rd quarter worth about $528,000. Hawk Ridge Capital Management LP raised its holdings in Garrett Motion by 8.8% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 7,328,854 shares of the company's stock worth $57,751,000 after buying an additional 593,300 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in Garrett Motion by 15.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,068,393 shares of the company's stock worth $16,299,000 after buying an additional 274,204 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the company's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total value of $90,000,000.00. Following the transaction, the insider now owns 15,236,484 shares in the company, valued at approximately $137,128,356. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total value of $90,000,000.00. Following the transaction, the insider now owns 15,236,484 shares in the company, valued at $137,128,356. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 260,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $9.87, for a total value of $2,566,200.00. Following the completion of the transaction, the insider now owns 28,467,284 shares in the company, valued at approximately $280,972,093.08. The disclosure for this sale can be found here. Insiders have sold 11,161,193 shares of company stock worth $101,430,410 in the last 90 days. Company insiders own 37.08% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a "buy" rating and set a $15.00 price objective on shares of Garrett Motion in a report on Monday, April 8th.

Garrett Motion Stock Up 1.0 %

Shares of GTX traded up $0.09 during trading hours on Friday, reaching $9.35. The company's stock had a trading volume of 803,037 shares, compared to its average volume of 948,749. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -7.19 and a beta of 1.31. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16. The company has a 50 day moving average of $9.56 and a two-hundred day moving average of $8.62.

Garrett Motion (NYSE:GTX - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, meeting analysts' consensus estimates of $0.22. The company had revenue of $945.00 million for the quarter, compared to the consensus estimate of $949.00 million. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. As a group, analysts forecast that Garrett Motion Inc. will post 1.05 EPS for the current fiscal year.

Garrett Motion Profile

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.