Gabelli Funds LLC Raises Holdings in Garrett Motion Inc. (NYSE:GTX)

Gabelli Funds LLC increased its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,245,356 shares of the company's stock after acquiring an additional 67,193 shares during the period. Gabelli Funds LLC owned about 0.58% of Garrett Motion worth $11,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royce & Associates LP raised its holdings in shares of Garrett Motion by 25.6% in the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock worth $18,712,000 after purchasing an additional 422,955 shares during the period. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Garrett Motion during the 4th quarter worth $15,442,000. Loomis Sayles & Co. L P increased its holdings in Garrett Motion by 11.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,579,376 shares of the company's stock worth $14,262,000 after acquiring an additional 159,891 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Garrett Motion by 15.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,483,442 shares of the company's stock valued at $13,395,000 after purchasing an additional 199,679 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position 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 purchasing an additional 9,681 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Trading Down 2.3 %

Shares of GTX stock traded down $0.21 during trading hours on Monday, reaching $8.81. The stock had a trading volume of 1,102,905 shares, compared to its average volume of 1,017,543. The stock's fifty day simple moving average is $8.94 and its 200 day simple moving average is $8.76. The firm has a market capitalization of $1.80 billion, a PE ratio of 6.94 and a beta of 0.67. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $10.39.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a "buy" rating and set a $12.00 price target on shares of Garrett Motion in a research note on Friday, April 4th.

Insider Buying and Selling

In related news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares of the company's stock, valued at approximately $228,914,613. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total value of $875,326.34. Following the completion of the sale, the insider now directly owns 10,395,183 shares of the company's stock, valued at approximately $103,328,119.02. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,109,853 shares of company stock worth $28,920,153. Corporate insiders own 0.60% 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.