Prosperity Wealth Management Inc. Invests $365,000 in Garrett Motion Inc. (NYSE:GTX)

Prosperity Wealth Management Inc. acquired a new position in shares of Garrett Motion Inc. (NYSE:GTX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,400 shares of the company’s stock, valued at approximately $365,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of Garrett Motion during the fourth quarter worth about $224,000. Raymond James Financial Inc. acquired a new position in shares of Garrett Motion during the fourth quarter worth about $326,000. Arizona State Retirement System raised its holdings in Garrett Motion by 11.4% during the fourth 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 in the last quarter. Victory Capital Management Inc. raised its holdings in Garrett Motion by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company’s stock worth $11,157,000 after acquiring an additional 9,681 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Garrett Motion by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 807,950 shares of the company’s stock worth $7,296,000 after acquiring an additional 25,818 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Stock Performance

GTX opened at $9.09 on Wednesday. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The firm has a market capitalization of $1.86 billion, a PE ratio of 7.16 and a beta of 1.09. The business’s 50-day simple moving average is $9.40 and its 200 day simple moving average is $8.66.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.41, for a total value of $4,893,200.00. Following the sale, the insider now owns 9,795,684 shares in the company, valued at $92,177,386.44. This represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,457,412 shares of company stock worth $13,973,062 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Garrett Motion 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.