Sterling Capital Management LLC Boosts Stake in Garrett Motion Inc. (NYSE:GTX)

Sterling Capital Management LLC grew its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 41.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,895 shares of the company's stock after acquiring an additional 68,093 shares during the period. Sterling Capital Management LLC owned 0.11% of Garrett Motion worth $2,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Savant Capital LLC purchased a new stake in shares of Garrett Motion in the 4th quarter worth $96,000. KLP Kapitalforvaltning AS bought a new position in Garrett Motion during the 4th quarter worth about $133,000. XTX Topco Ltd purchased a new position in Garrett Motion during the 3rd quarter valued at about $132,000. Pacific Global Investment Management Co. purchased a new position in Garrett Motion during the 4th quarter valued at about $150,000. Finally, ARS Investment Partners LLC bought a new stake in shares of Garrett Motion in the 4th quarter valued at about $181,000. Institutional investors own 86.27% of the company's stock.

Garrett Motion Trading Up 0.6 %

Shares of NYSE:GTX traded up $0.06 on Friday, reaching $9.00. The company had a trading volume of 1,904,858 shares, compared to its average volume of 1,016,088. The firm has a market capitalization of $1.83 billion, a PE ratio of 7.08 and a beta of 0.67. Garrett Motion Inc. has a 52-week low of $7.02 and a 52-week high of $10.39. The firm's 50 day simple moving average is $8.94 and its 200-day simple moving average is $8.75.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 in the company, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares in the company, valued at approximately $228,914,613. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,109,853 shares of company stock valued at $28,920,153 over the last quarter. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.