Garrett Motion (NYSE:GTX) Sees Strong Trading Volume - Here's What Happened

Garrett Motion Inc. (NYSE:GTX - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,711,529 shares traded hands during mid-day trading, an increase of 75% from the previous session's volume of 979,117 shares.The stock last traded at $8.87 and had previously closed at $8.81.

Wall Street Analyst Weigh In

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

Garrett Motion Trading Up 0.6 %

The company has a market cap of $1.83 billion, a price-to-earnings ratio of 7.08 and a beta of 0.67. The stock's 50-day moving average is $8.94 and its 200-day moving average is $8.75.

Insider Transactions at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 25,434,957 shares of the company's stock, valued at $228,914,613. This represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,109,853 shares of company stock worth $28,920,153 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds have recently added to or reduced their stakes in GTX. Quarry LP boosted its position in 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 purchasing an additional 4,988 shares during the last quarter. Deutsche Bank AG increased its position in Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after acquiring an additional 5,329 shares during the last quarter. Savant Capital LLC bought a new stake in Garrett Motion during the 4th quarter valued at $96,000. XTX Topco Ltd bought a new stake in Garrett Motion during the 3rd quarter valued at $132,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Garrett Motion during the 4th quarter worth approximately $133,000. 86.27% of the stock is owned by institutional investors.

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.