Tocqueville Asset Management L.P. lowered its stake in Garrett Motion Inc (NYSE:GTX) by 28.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 287,715 shares of the company’s stock after selling 114,404 shares during the period. Tocqueville Asset Management L.P.’s holdings in Garrett Motion were worth $4,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of Garrett Motion by 200.8% in the 1st quarter. Versant Capital Management Inc now owns 2,590 shares of the company’s stock worth $38,000 after purchasing an additional 1,729 shares during the last quarter. Rocky Mountain Advisers LLC bought a new stake in shares of Garrett Motion in the 2nd quarter worth about $60,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Garrett Motion in the 4th quarter worth about $53,000. Meeder Asset Management Inc. bought a new stake in shares of Garrett Motion in the 1st quarter worth about $67,000. Finally, AdvisorNet Financial Inc increased its position in shares of Garrett Motion by 228.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 5,459 shares of the company’s stock worth $84,000 after purchasing an additional 3,797 shares during the last quarter. 82.03% of the stock is owned by institutional investors.

Shares of NYSE:GTX traded down $0.49 during trading on Wednesday, reaching $11.04. 6,872 shares of the company’s stock traded hands, compared to its average volume of 792,778. Garrett Motion Inc has a 12 month low of $11.01 and a 12 month high of $22.00. The company’s 50 day moving average is $14.10. The stock has a market cap of $820.83 million and a PE ratio of 2.75.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Garrett Motion had a net margin of 34.50% and a negative return on equity of 44.81%. The business had revenue of $802.00 million during the quarter, compared to the consensus estimate of $831.99 million. During the same quarter in the prior year, the firm earned $2.03 EPS. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Garrett Motion Inc will post 3.4 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on GTX shares. Zacks Investment Research downgraded shares of Garrett Motion from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Barclays set a $16.00 price objective on shares of Garrett Motion and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada set a $14.00 price objective on shares of Garrett Motion and gave the company a “hold” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Garrett Motion presently has a consensus rating of “Hold” and a consensus target price of $15.20.

Garrett Motion Profile

Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.

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Institutional Ownership by Quarter for Garrett Motion (NYSE:GTX)

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