Garrett Motion Inc. (NYSE:GTX) Major Shareholder Special Credit Pa Centerbridge Sells 349,351 Shares

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the completion of the transaction, the insider now owns 10,098,173 shares of the company’s stock, valued at $100,577,803.08. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Stock Performance

Shares of GTX opened at $9.35 on Thursday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 7.36 and a beta of 1.09. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The stock’s 50-day simple moving average is $9.38 and its 200 day simple moving average is $8.63.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and set a $12.00 target price on shares of Garrett Motion in a research report on Tuesday, February 25th.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors and hedge funds have recently modified their holdings of GTX. Arizona State Retirement System increased its holdings in Garrett Motion by 11.4% during the 4th quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock worth $229,000 after acquiring an additional 2,586 shares during the period. Entropy Technologies LP grew its position in shares of Garrett Motion by 17.0% during the 3rd quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock valued at $147,000 after purchasing an additional 2,600 shares in the last quarter. Covestor Ltd bought a new position in shares of Garrett Motion in the third quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Garrett Motion by 5.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company’s stock worth $653,000 after purchasing an additional 3,774 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Garrett Motion by 14.3% in the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company’s stock worth $281,000 after buying an additional 3,880 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.