Bank of New York Mellon Corp Purchases 272,843 Shares of Garrett Motion Inc. (NYSE:GTX)

Bank of New York Mellon Corp raised its position in Garrett Motion Inc. (NYSE:GTX - Free Report) by 1,154.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 296,477 shares of the company's stock after acquiring an additional 272,843 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.14% of Garrett Motion worth $2,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GTX. Moors & Cabot Inc. grew its position in shares of Garrett Motion by 7.4% during the 3rd quarter. Moors & Cabot Inc. now owns 72,500 shares of the company's stock valued at $593,000 after acquiring an additional 5,000 shares during the period. Savant Capital LLC purchased a new stake in Garrett Motion in the fourth quarter worth about $96,000. Paloma Partners Management Co bought a new position in shares of Garrett Motion in the third quarter worth about $87,000. Handelsbanken Fonder AB lifted its position in shares of Garrett Motion by 57.4% during the 4th quarter. Handelsbanken Fonder AB now owns 31,800 shares of the company's stock valued at $287,000 after buying an additional 11,600 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Garrett Motion by 85.4% during the 3rd quarter. HighTower Advisors LLC now owns 27,221 shares of the company's stock valued at $217,000 after acquiring an additional 12,542 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Trading Down 1.9 %

Garrett Motion stock traded down $0.17 during mid-day trading on Monday, hitting $8.77. The stock had a trading volume of 1,128,363 shares, compared to its average volume of 928,221. Garrett Motion Inc. has a one year low of $7.13 and a one year high of $10.39. The firm has a market capitalization of $1.80 billion, a P/E ratio of 6.91 and a beta of 1.09. The firm's 50 day moving average is $9.39 and its 200 day moving average is $8.70.

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Wall Street Analysts Forecast Growth

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

Insider Transactions at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction that occurred on 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 sale, the insider now owns 10,098,173 shares in the company, valued at $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 1,457,412 shares of company stock valued at $13,973,062 over the last 90 days. Company insiders own 0.60% of the company's stock.

About Garrett Motion

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.