Eubel Brady & Suttman Asset Management Inc. Has $39.19 Million Position in Garrett Motion Inc. $GTX

Eubel Brady & Suttman Asset Management Inc. lowered its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,877,151 shares of the company’s stock after selling 48,619 shares during the quarter. Garrett Motion comprises approximately 4.5% of Eubel Brady & Suttman Asset Management Inc.’s holdings, making the stock its 3rd largest holding. Eubel Brady & Suttman Asset Management Inc. owned 1.48% of Garrett Motion worth $39,187,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LSV Asset Management acquired a new stake in Garrett Motion in the 3rd quarter worth $58,247,000. Caprock Group LLC acquired a new stake in Garrett Motion during the third quarter worth about $207,000. Rhumbline Advisers grew its position in Garrett Motion by 1.7% during the third quarter. Rhumbline Advisers now owns 192,017 shares of the company’s stock worth $2,615,000 after buying an additional 3,248 shares in the last quarter. Wesbanco Bank Inc. bought a new position in Garrett Motion during the third quarter valued at about $818,000. Finally, Renaissance Group LLC acquired a new position in Garrett Motion in the 3rd quarter valued at approximately $1,156,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GTX. JPMorgan Chase & Co. started coverage on Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price objective on the stock. BWS Financial raised their target price on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Stifel Nicolaus lifted their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Garrett Motion in a research note on Monday, October 20th. They issued a “hold” rating and a $14.00 price objective for the company. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Garrett Motion Stock Performance

Shares of NYSE GTX opened at $20.80 on Thursday. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $20.94. The business has a fifty day moving average of $17.91 and a two-hundred day moving average of $15.55. The stock has a market cap of $4.05 billion, a PE ratio of 16.38 and a beta of 0.33.

Garrett Motion declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Garrett Motion

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.