Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $3,479,535.96 in Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the transaction, the insider now directly owns 10,098,173 shares in the company, valued at $100,577,803.08. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Price Performance

Shares of NYSE:GTX opened at $9.35 on Thursday. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.39. The company has a market capitalization of $1.92 billion, a PE ratio of 7.36 and a beta of 1.09. The business has a fifty day moving average price of $9.38 and a two-hundred day moving average price of $8.63.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors have recently added to or reduced their stakes in the stock. PharVision Advisers LLC bought a new stake in Garrett Motion in the fourth quarter worth about $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Garrett Motion by 10.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,098 shares of the company’s stock worth $1,265,000 after purchasing an additional 13,363 shares during the period. State of Wyoming raised its holdings in shares of Garrett Motion by 34.4% in the 4th quarter. State of Wyoming now owns 73,968 shares of the company’s stock worth $668,000 after purchasing an additional 18,946 shares during the period. Prevatt Capital Ltd lifted its stake in Garrett Motion by 18.2% in the fourth quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock valued at $29,348,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in Garrett Motion during the fourth quarter valued at $361,000. Institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.