Renaissance Technologies LLC Sells 132,514 Shares of Garrett Motion Inc. (NYSE:GTX)

Renaissance Technologies LLC lowered its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 36.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 226,286 shares of the company's stock after selling 132,514 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Garrett Motion worth $2,043,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Savant Capital LLC purchased a new stake in Garrett Motion in the fourth quarter valued at approximately $96,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Garrett Motion during the 4th quarter valued at $133,000. Pacific Global Investment Management Co. purchased a new position in Garrett Motion in the fourth quarter worth $150,000. ARS Investment Partners LLC bought a new position in Garrett Motion in the fourth quarter valued at $181,000. Finally, Financial Advocates Investment Management purchased a new stake in Garrett Motion during the fourth quarter valued at about $191,000. Institutional investors own 86.27% of the company's stock.

Garrett Motion Trading Up 0.5 %

Shares of GTX traded up $0.05 during mid-day trading on Tuesday, reaching $9.21. The company's stock had a trading volume of 1,630,656 shares, compared to its average volume of 1,028,655. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $10.39. The company's fifty day moving average price is $8.93 and its two-hundred day moving average price is $8.81. The stock has a market cap of $1.88 billion, a PE ratio of 7.25 and a beta of 0.67.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was 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 owns 10,098,173 shares of the company's stock, valued at approximately $100,577,803.08. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock in a transaction on Monday, April 14th. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05. Following the completion of the transaction, the insider now directly owns 25,834,957 shares in the company, valued at approximately $233,806,360.85. The trade was a 5.50 % 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 over the last three months. Company insiders own 0.60% of the company's stock.

Garrett Motion Company Profile

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.