Raymond James Financial Inc. Takes $326,000 Position in Garrett Motion Inc. (NYSE:GTX)

Raymond James Financial Inc. bought a new stake in Garrett Motion Inc. (NYSE:GTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 36,095 shares of the company's stock, valued at approximately $326,000.

Several other large investors have also recently added to or reduced their stakes in GTX. Savant Capital LLC purchased a new position in shares of Garrett Motion during the 4th quarter worth about $96,000. XTX Topco Ltd purchased a new position in shares of Garrett Motion in the 3rd quarter worth $132,000. Pacific Global Investment Management Co. acquired a new position in Garrett Motion in the fourth quarter valued at $150,000. ARS Investment Partners LLC purchased a new stake in Garrett Motion during the fourth quarter valued at about $181,000. Finally, Financial Advocates Investment Management purchased a new position in shares of Garrett Motion in the 4th quarter worth about $191,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Stock Down 0.8 %

Shares of GTX stock traded down $0.08 during mid-day trading on Tuesday, reaching $8.98. The company's stock had a trading volume of 105,899 shares, compared to its average volume of 995,075. The firm has a market capitalization of $1.84 billion, a PE ratio of 7.04 and a beta of 0.67. The company's 50 day simple moving average is $8.98 and its 200-day simple moving average is $8.73. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $10.39.

Insiders Place Their Bets

In related news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm'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 completion of the sale, the insider now directly owns 10,098,173 shares of the company's stock, valued at approximately $100,577,803.08. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 1,457,412 shares of company stock worth $13,973,062 over the last quarter. 0.60% of the stock is owned by corporate insiders.

Remove Ads

Analyst Upgrades and Downgrades

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

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.