Garrett Motion Inc. (NYSE:GTX) Major Shareholder Special Credit Pa Centerbridge Sells 349,351 Shares

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the completion of the sale, the insider now directly owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases 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 stock was sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Price Performance

NYSE:GTX traded up $0.15 during midday trading on Friday, reaching $9.40. 637,677 shares of the company traded hands, compared to its average volume of 913,055. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.39. The company has a fifty day moving average price of $9.38 and a 200 day moving average price of $8.63. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 7.39 and a beta of 1.09.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds have recently made changes to their positions in GTX. Gates Capital Management Inc. acquired a new position in Garrett Motion in the 4th quarter valued at $40,068,000. Eubel Brady & Suttman Asset Management Inc. bought a new stake in Garrett Motion during the fourth quarter valued at about $15,442,000. Frontier Capital Management Co. LLC acquired a new stake in shares of Garrett Motion in the fourth quarter valued at about $13,147,000. Public Employees Retirement System of Ohio bought a new position in shares of Garrett Motion in the third quarter worth about $5,928,000. Finally, Prevatt Capital Ltd lifted its position in shares of Garrett Motion by 18.2% during the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company's stock worth $29,348,000 after purchasing an additional 500,000 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company's stock.

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Analyst Ratings Changes

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