PNC Financial Services Group Inc. Purchases Shares of 69,261 Garrett Motion Inc (GTX)
PNC Financial Services Group Inc. purchased a new stake in Garrett Motion Inc (NYSE:GTX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 69,261 shares of the company’s stock, valued at approximately $854,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exane Derivatives purchased a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $25,000. First Manhattan Co. purchased a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $26,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $28,000. TCI Wealth Advisors Inc. purchased a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $30,000. Finally, LS Investment Advisors LLC purchased a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Garrett Motion stock opened at $14.76 on Friday. The firm has a market cap of $1.14 billion and a price-to-earnings ratio of 3.64. Garrett Motion Inc has a twelve month low of $11.01 and a twelve month high of $22.00.
GTX has been the subject of a number of research reports. Royal Bank of Canada upgraded Garrett Motion from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $11.00 to $15.00 in a report on Wednesday, January 23rd. Zacks Investment Research lowered Garrett Motion from a “hold” rating to a “sell” rating in a report on Thursday, December 6th. Barclays set a $14.00 target price on Garrett Motion and gave the stock a “hold” rating in a report on Friday, January 4th. Desjardins lowered Garrett Motion to a “buy” rating in a report on Wednesday, January 23rd. Finally, Jefferies Financial Group began coverage on Garrett Motion in a report on Tuesday, December 4th. They set a “hold” rating and a $13.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $15.00.
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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 was incorporated in 2018 and is headquartered in Rolle, Switzerland.
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