Garrett Motion Inc (NYSE:GTX) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 4,702,600 shares, a decline of 23.1% from the June 15th total of 6,115,100 shares. Based on an average daily trading volume, of 761,000 shares, the short-interest ratio is presently 6.2 days. Currently, 6.4% of the shares of the company are short sold.

A number of institutional investors have recently modified their holdings of GTX. LPL Financial LLC acquired a new position in Garrett Motion during the 4th quarter worth $242,000. California Public Employees Retirement System acquired a new position in shares of Garrett Motion during the 4th quarter worth about $1,582,000. Bank of New York Mellon Corp boosted its position in shares of Garrett Motion by 619.7% during the 4th quarter. Bank of New York Mellon Corp now owns 865,663 shares of the company’s stock worth $10,682,000 after acquiring an additional 745,383 shares in the last quarter. Raymond James & Associates acquired a new position in shares of Garrett Motion during the 4th quarter worth about $367,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Garrett Motion during the 4th quarter worth about $189,000. Institutional investors and hedge funds own 82.14% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of Eisai from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Garrett Motion currently has an average rating of “Hold” and a consensus price target of $15.00.

Garrett Motion stock traded up $0.57 during midday trading on Friday, hitting $14.79. The company’s stock had a trading volume of 460,153 shares, compared to its average volume of 965,026. Garrett Motion has a 1-year low of $11.01 and a 1-year high of $22.00. The company has a 50-day simple moving average of $15.03. The company has a market capitalization of $1.10 billion and a P/E ratio of 3.65.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. The business had revenue of $835.00 million during the quarter, compared to analyst estimates of $835.79 million. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Research analysts forecast that Garrett Motion will post 3.42 earnings per share for the current year.

Garrett Motion Company 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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