Victory Capital Management Inc. Purchases New Position in Garrett Motion Inc. (NYSE:GTX)

Victory Capital Management Inc. purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 849,131 shares of the company's stock, valued at approximately $8,211,000. Victory Capital Management Inc. owned 0.35% of Garrett Motion at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pekin Hardy Strauss Inc. bought a new stake in shares of Garrett Motion in the fourth quarter valued at about $348,000. Guyasuta Investment Advisors Inc. acquired a new position in Garrett Motion during the 4th quarter worth approximately $1,063,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Garrett Motion by 100.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,542 shares of the company's stock worth $228,000 after acquiring an additional 11,804 shares in the last quarter. Beverly Hills Private Wealth LLC bought a new position in shares of Garrett Motion during the 4th quarter worth approximately $152,000. Finally, Custom Index Systems LLC acquired a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $549,000. Institutional investors own 86.27% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of Garrett Motion stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $9.00, for a total value of $90,000,000.00. Following the completion of the transaction, the insider now owns 15,236,484 shares of the company's stock, valued at approximately $137,128,356. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Cyrus Capital Partners, L.P. sold 29,860 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $9.20, for a total transaction of $274,712.00. Following the transaction, the insider now directly owns 29,527,284 shares of the company's stock, valued at approximately $271,651,012.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $9.00, for a total value of $90,000,000.00. Following the sale, the insider now directly owns 15,236,484 shares of the company's stock, valued at approximately $137,128,356. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,161,193 shares of company stock valued at $101,430,410. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Garrett Motion Trading Up 0.3 %

Shares of NYSE GTX traded up $0.03 during mid-day trading on Tuesday, hitting $9.37. The company had a trading volume of 865,972 shares, compared to its average volume of 1,028,342. The firm has a 50-day simple moving average of $9.63 and a two-hundred day simple moving average of $8.89. The company has a market capitalization of $2.12 billion, a PE ratio of -8.15 and a beta of 1.27. Garrett Motion Inc. has a one year low of $6.43 and a one year high of $10.16.

Garrett Motion (NYSE:GTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $945.00 million for the quarter, compared to analyst estimates of $949.00 million. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. Sell-side analysts expect that Garrett Motion Inc. will post 1.12 earnings per share 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.