William Blair Investment Management LLC Cuts Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

William Blair Investment Management LLC trimmed its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 22.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,392,597 shares of the company’s stock after selling 2,129,199 shares during the period. William Blair Investment Management LLC’s holdings in Garrett Motion were worth $66,755,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Paloma Partners Management Co purchased a new stake in Garrett Motion during the third quarter valued at about $87,000. Savant Capital LLC purchased a new stake in shares of Garrett Motion during the fourth quarter worth about $96,000. Aigen Investment Management LP purchased a new stake in shares of Garrett Motion during the third quarter worth about $116,000. XTX Topco Ltd purchased a new stake in shares of Garrett Motion during the third quarter worth about $132,000. Finally, Entropy Technologies LP boosted its holdings in shares of Garrett Motion by 17.0% during the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock worth $147,000 after purchasing an additional 2,600 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Trading Up 0.6 %

Garrett Motion stock opened at $9.00 on Tuesday. The firm has a 50-day moving average of $9.39 and a 200-day moving average of $8.68. The firm has a market cap of $1.85 billion, a P/E ratio of 7.09 and a beta of 1.09. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.39.

Insider Transactions at Garrett Motion

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

Analyst Ratings Changes

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.

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.