Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 500,000 Shares of Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Special Credit Pa Centerbridge sold 500,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $9.45, for a total value of $4,725,000.00. Following the completion of the sale, the insider now owns 9,949,894 shares in the company, valued at $94,026,498.30. This represents a 4.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96.
• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The stock was sold at an average price of $9.94, for a total value of $875,326.34.

Garrett Motion Stock Down 2.5 %

NYSE:GTX traded down $0.24 during trading hours on Tuesday, reaching $9.03. 398,186 shares of the company's stock were exchanged, compared to its average volume of 921,626. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.39. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 7.11 and a beta of 1.09. The company has a 50-day moving average of $9.40 and a 200 day moving average of $8.66.

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Analysts Set New Price Targets

Separately, BWS Financial reiterated a "buy" rating and issued a $12.00 price target on shares of Garrett Motion in a research note on Tuesday, February 25th.

Institutional Investors Weigh In On Garrett Motion

Hedge funds have recently modified their holdings of the stock. Covestor Ltd purchased a new position in shares of Garrett Motion during the 3rd quarter worth approximately $28,000. Gladius Capital Management LP purchased a new stake in shares of Garrett Motion during the 3rd quarter worth $58,000. Quarry LP grew its stake in shares of Garrett Motion by 180.3% during the 4th 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 period. Deutsche Bank AG increased its holdings in shares of Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after purchasing an additional 5,329 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in Garrett Motion during the fourth quarter worth about $96,000. 86.27% of the stock is owned by institutional investors and hedge funds.

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.