Geode Capital Management LLC Cuts Stake in Garrett Motion Inc. (NYSE:GTX)

Geode Capital Management LLC decreased its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,552,027 shares of the company's stock after selling 47,376 shares during the period. Geode Capital Management LLC owned 0.73% of Garrett Motion worth $14,021,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GTX. Eubel Brady & Suttman Asset Management Inc. bought a new stake in Garrett Motion during the 4th quarter valued at about $15,442,000. Royce & Associates LP raised its holdings in Garrett Motion by 25.6% in the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock worth $18,712,000 after acquiring an additional 422,955 shares during the last quarter. Four Tree Island Advisory LLC purchased a new position in Garrett Motion in the 4th quarter worth approximately $3,060,000. Bank of New York Mellon Corp lifted its position in Garrett Motion by 1,154.5% in the 4th quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company's stock valued at $2,677,000 after acquiring an additional 272,843 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Garrett Motion by 1,952.2% during the 4th quarter. Teacher Retirement System of Texas now owns 280,965 shares of the company's stock valued at $2,537,000 after purchasing an additional 267,274 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Garrett Motion Stock Performance

Shares of GTX traded up $0.01 during mid-day trading on Friday, hitting $9.18. 249,895 shares of the company traded hands, compared to its average volume of 1,034,292. Garrett Motion Inc. has a 1 year low of $7.02 and a 1 year high of $10.39. The stock has a 50-day moving average price of $8.94 and a two-hundred day moving average price of $8.78. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 7.22 and a beta of 0.67.

Insider Buying and Selling 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 shares were sold at an average price of $9.00, for a total value of $1,350,000.00. Following the completion of the transaction, the insider now directly owns 25,434,957 shares in the company, valued at $228,914,613. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34. Following the completion of the sale, the insider now directly owns 10,395,183 shares of the company's stock, valued at approximately $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,109,853 shares of company stock worth $28,920,153. Insiders own 0.60% of the company's stock.

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.