Garrett Motion Inc. (NYSE:GTX - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.02 and last traded at $7.30, with a volume of 380514 shares. The stock had previously closed at $7.60.
Analyst Upgrades and Downgrades
Separately, BWS Financial reaffirmed a "buy" rating and issued a $12.00 target price on shares of Garrett Motion in a report on Friday, April 4th.
Get Our Latest Stock Analysis on Garrett Motion
Garrett Motion Stock Performance
The firm has a market capitalization of $1.79 billion, a PE ratio of 6.87 and a beta of 0.67. The stock's 50-day simple moving average is $9.02 and its 200-day simple moving average is $8.72.
Insider Transactions at Garrett Motion
In other news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.41, for a total transaction of $4,893,200.00. Following the completion of the transaction, the insider now directly owns 9,795,684 shares in the company, valued at approximately $92,177,386.44. This represents a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,457,412 shares of company stock worth $13,973,062. Corporate insiders own 0.60% of the company's stock.
Institutional Investors Weigh In On Garrett Motion
A number of institutional investors and hedge funds have recently bought and sold shares of GTX. Quarry LP increased its stake in shares of Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after acquiring an additional 4,988 shares during the period. Deutsche Bank AG lifted its holdings in Garrett Motion by 185.5% during the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after buying an additional 5,329 shares during the last quarter. Savant Capital LLC purchased a new position in Garrett Motion during the 4th quarter worth approximately $96,000. XTX Topco Ltd purchased a new position in Garrett Motion during the 3rd quarter worth $132,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Garrett Motion during the fourth quarter worth $133,000. 86.27% of the stock is owned by institutional investors.
Garrett Motion Company Profile
(
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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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