Royce & Associates LP Acquires 422,955 Shares of Garrett Motion Inc. (NYSE:GTX)

Royce & Associates LP lifted its position in Garrett Motion Inc. (NYSE:GTX - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,072,173 shares of the company's stock after acquiring an additional 422,955 shares during the period. Royce & Associates LP owned about 0.97% of Garrett Motion worth $18,712,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Garrett Motion by 15.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,483,442 shares of the company's stock worth $13,395,000 after purchasing an additional 199,679 shares during the period. Swiss National Bank lifted its stake in Garrett Motion by 11.3% in the fourth quarter. Swiss National Bank now owns 172,000 shares of the company's stock valued at $1,553,000 after acquiring an additional 17,500 shares during the last quarter. HighTower Advisors LLC lifted its stake in Garrett Motion by 14.3% in the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock valued at $281,000 after acquiring an additional 3,880 shares during the last quarter. Prosperity Wealth Management Inc. acquired a new stake in Garrett Motion in the fourth quarter valued at approximately $365,000. Finally, Wealthfront Advisers LLC acquired a new stake in Garrett Motion in the fourth quarter valued at approximately $224,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.41, for a total transaction of $4,893,200.00. Following the transaction, the insider now owns 9,795,684 shares of the company's stock, valued at approximately $92,177,386.44. The trade was a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 1,457,412 shares of company stock valued at $13,973,062. 0.60% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

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

Garrett Motion Stock Performance

Shares of Garrett Motion stock traded down $0.11 on Tuesday, reaching $8.90. The stock had a trading volume of 405,384 shares, compared to its average volume of 1,051,256. The business's 50-day moving average price is $9.39 and its two-hundred day moving average price is $8.68. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $10.39. The stock has a market cap of $1.82 billion, a P/E ratio of 7.00 and a beta of 1.09.

Garrett Motion 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.