Garrett Motion (NYSE:GTX) Trading 5.6% Higher

Garrett Motion Inc (NYSE:GTX)’s stock price traded up 5.6% during mid-day trading on Thursday . The company traded as high as $15.56 and last traded at $15.52. 944,924 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 741,316 shares. The stock had previously closed at $14.70.

Separately, Zacks Investment Research raised Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.00.

The company has a 50 day moving average of $16.35.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.17. The company had revenue of $835.00 million for the quarter, compared to analysts’ expectations of $835.79 million. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, research analysts expect that Garrett Motion Inc will post 3.43 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Financial Advocates Investment Management purchased a new position in Garrett Motion during the fourth quarter worth approximately $669,000. Mason Street Advisors LLC lifted its position in Garrett Motion by 3.4% during the first quarter. Mason Street Advisors LLC now owns 23,771 shares of the company’s stock worth $350,000 after buying an additional 785 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Garrett Motion by 16.8% during the first quarter. Pittenger & Anderson Inc. now owns 5,555 shares of the company’s stock worth $82,000 after buying an additional 800 shares in the last quarter. Comerica Bank lifted its position in Garrett Motion by 1.1% during the first quarter. Comerica Bank now owns 74,193 shares of the company’s stock worth $1,235,000 after buying an additional 818 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in Garrett Motion by 0.7% during the first quarter. New York State Teachers Retirement System now owns 136,109 shares of the company’s stock worth $2,005,000 after buying an additional 990 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Garrett Motion Company Profile (NYSE:GTX)

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.

See Also: Rule of 72

Receive News & Ratings for Garrett Motion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garrett Motion and related companies with MarketBeat.com's FREE daily email newsletter.