Garrett Motion Inc. (NYSE:GTX) Major Shareholder Special Credit Pa Centerbridge Sells 520,000 Shares

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 520,000 shares of Garrett Motion stock in a transaction on 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 transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Large 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 Wednesday, March 5th, Special Credit Pa Centerbridge sold 500,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.45, for a total value of $4,725,000.00.
• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96.
• 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 Down 3.1 %

NYSE:GTX opened at $8.68 on Friday. The business’s 50-day simple moving average is $9.39 and its two-hundred day simple moving average is $8.66. Garrett Motion Inc. has a 52 week low of $7.13 and a 52 week high of $10.39. The stock has a market cap of $1.78 billion, a PE ratio of 6.83 and a beta of 1.09.

Analyst Upgrades and Downgrades

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

Institutional Trading of Garrett Motion

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

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.