Wittenberg Investment Management Inc. cut its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 34.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,455 shares of the company's stock after selling 167,882 shares during the quarter. Garrett Motion makes up 1.1% of Wittenberg Investment Management Inc.'s portfolio, making the stock its 17th largest holding. Wittenberg Investment Management Inc. owned about 0.15% of Garrett Motion worth $2,858,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in GTX. Savant Capital LLC bought a new position in Garrett Motion during the 4th quarter valued at about $96,000. Paloma Partners Management Co acquired a new stake in Garrett Motion during the 3rd quarter valued at $87,000. KLP Kapitalforvaltning AS bought a new position in Garrett Motion in the 4th quarter valued at $133,000. XTX Topco Ltd acquired a new position in Garrett Motion in the third quarter worth $132,000. Finally, Pacific Global Investment Management Co. bought a new stake in shares of Garrett Motion during the fourth quarter worth $150,000. Institutional investors and hedge funds own 86.27% of the company's stock.
Insider Buying and Selling
In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the transaction, the insider now owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,457,412 shares of company stock valued at $13,973,062 over the last ninety days. Insiders own 0.60% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, BWS Financial reissued a "buy" rating and set a $12.00 price objective on shares of Garrett Motion in a report on Friday, April 4th.
Check Out Our Latest Stock Analysis on Garrett Motion
Garrett Motion Trading Up 1.7 %
Garrett Motion stock traded up $0.13 during mid-day trading on Wednesday, hitting $8.07. The stock had a trading volume of 599,615 shares, compared to its average volume of 962,459. The stock has a market capitalization of $1.66 billion, a PE ratio of 6.35 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. The stock has a 50-day simple moving average of $9.06 and a two-hundred day simple moving average of $8.71.
About Garrett Motion
(
Free Report)
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.
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