Garrett Motion (GTX) Set to Announce Quarterly Earnings on Thursday

Garrett Motion (NYSE:GTX) will be releasing its earnings data before the market opens on Thursday, April 25th. Analysts expect Garrett Motion to post earnings of $0.22 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company 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 49.01% and a net margin of 6.72%.

Garrett Motion Stock Performance

Garrett Motion stock opened at $9.14 on Thursday. Garrett Motion has a 52 week low of $6.43 and a 52 week high of $10.16. The firm has a market cap of $2.08 billion, a P/E ratio of -7.03 and a beta of 1.31. The business’s fifty day moving average is $9.52 and its two-hundred day moving average is $8.59.

Insider Activity

In related news, major shareholder Cyrus Capital Partners, L.P. sold 29,860 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $9.20, for a total value of $274,712.00. Following the completion of the sale, the insider now owns 29,527,284 shares in the company, valued at $271,651,012.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Cyrus Capital Partners, L.P. sold 29,860 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $9.20, for a total value of $274,712.00. Following the completion of the sale, the insider now owns 29,527,284 shares in the company, valued at $271,651,012.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the company’s 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 sale, the insider now 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. Insiders have sold 11,161,193 shares of company stock valued at $101,430,410 over the last 90 days. 37.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Garrett Motion

Several large investors have recently modified their holdings of GTX. Advisor Group Holdings Inc. increased its holdings in shares of Garrett Motion by 31.0% in the first quarter. Advisor Group Holdings Inc. now owns 12,015 shares of the company’s stock worth $85,000 after acquiring an additional 2,846 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Garrett Motion by 53.8% in the first quarter. Raymond James & Associates now owns 69,118 shares of the company’s stock worth $497,000 after acquiring an additional 24,170 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Garrett Motion by 4.6% in the first quarter. Bank of Montreal Can now owns 60,144 shares of the company’s stock worth $441,000 after acquiring an additional 2,651 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Garrett Motion by 1.8% in the first quarter. BlackRock Inc. now owns 898,030 shares of the company’s stock worth $6,458,000 after acquiring an additional 16,089 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Garrett Motion by 74.8% in the first quarter. Dimensional Fund Advisors LP now owns 274,890 shares of the company’s stock worth $1,976,000 after acquiring an additional 117,617 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a “buy” rating and set a $15.00 price target on shares of Garrett Motion in a research note on Monday, April 8th.

About Garrett Motion

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.