Public Employees Retirement System of Ohio Takes Position in Garrett Motion Inc. (NYSE:GTX)

Public Employees Retirement System of Ohio acquired a new stake in Garrett Motion Inc. (NYSE:GTX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 724,670 shares of the company's stock, valued at approximately $5,928,000. Public Employees Retirement System of Ohio owned about 0.34% of Garrett Motion as of its most recent filing with the Securities and Exchange Commission (SEC).

• Garrett Motion Inc. Skids on Results: Is it Time to Buy the Dip?

Several other hedge funds also recently added to or reduced their stakes in GTX. Covestor Ltd purchased a new stake in Garrett Motion in the third quarter valued at $28,000. Quarry LP raised its holdings in Garrett Motion by 54.8% in the 2nd quarter. Quarry LP now owns 5,170 shares of the company's stock valued at $44,000 after buying an additional 1,830 shares during the period. Gladius Capital Management LP acquired a new position in Garrett Motion in the third quarter valued at about $58,000. nVerses Capital LLC purchased a new position in Garrett Motion during the second quarter worth about $67,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Garrett Motion during the third quarter valued at about $87,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garrett Motion

In other news, SVP Thierry Mabru sold 50,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total value of $373,500.00. Following the sale, the senior vice president now directly owns 140,509 shares in the company, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

• The Top 2 Chip Stocks Going Into Earnings Season

Separately, BWS Financial reaffirmed a "buy" rating and set a $12.00 price objective on shares of Garrett Motion in a research report on Friday, October 25th.

View Our Latest Report on GTX

Garrett Motion Trading Down 1.0 %

• Can Garrett Motion Turbocharge A Short Squeeze?

GTX stock opened at $9.50 on Friday. The business's fifty day moving average price is $8.15 and its 200 day moving average price is $8.36. Garrett Motion Inc. has a 12-month low of $7.13 and a 12-month high of $10.16. The company has a market capitalization of $2.03 billion, a PE ratio of 9.31 and a beta of 1.16.

Garrett Motion (NYSE:GTX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.06). Garrett Motion had a negative return on equity of 31.48% and a net margin of 6.54%. The business had revenue of $826.00 million for the quarter, compared to analysts' expectations of $854.00 million. During the same quarter last year, the company earned $0.23 earnings per share. Research analysts predict that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently announced a -- dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a yield of 2.7%.

Garrett Motion Company 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.

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