William Blair Investment Management LLC lessened its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,392,597 shares of the company's stock after selling 2,129,199 shares during the quarter. William Blair Investment Management LLC owned about 3.46% of Garrett Motion worth $66,755,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTX. Arizona State Retirement System lifted its stake in Garrett Motion by 11.4% during the fourth quarter. Arizona State Retirement System now owns 25,362 shares of the company's stock valued at $229,000 after purchasing an additional 2,586 shares during the last quarter. Entropy Technologies LP increased its holdings in shares of Garrett Motion by 17.0% in the third quarter. Entropy Technologies LP now owns 17,915 shares of the company's stock valued at $147,000 after buying an additional 2,600 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Garrett Motion by 14.3% during the 4th 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. Moors & Cabot Inc. boosted its stake in shares of Garrett Motion by 7.4% during the 3rd quarter. Moors & Cabot Inc. now owns 72,500 shares of the company's stock worth $593,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Garrett Motion by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company's stock worth $11,157,000 after acquiring an additional 9,681 shares during the last quarter. Institutional investors own 86.27% of the company's stock.
Analyst Ratings Changes
Separately, BWS Financial reiterated a "buy" rating and issued a $12.00 price target on shares of Garrett Motion in a research report on Tuesday, February 25th.
View Our Latest Analysis on GTX
Insider Activity
In related news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 in the company, valued at approximately $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,457,412 shares of company stock worth $13,973,062. 0.60% of the stock is owned by corporate insiders.
Garrett Motion Stock Down 0.3 %
Shares of GTX stock traded down $0.03 during trading hours on Friday, reaching $8.94. 2,929,870 shares of the stock traded hands, compared to its average volume of 931,156. The firm has a market capitalization of $1.83 billion, a PE ratio of 7.04 and a beta of 1.09. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.39. The business has a fifty day moving average price of $9.39 and a 200 day moving average price of $8.68.
About Garrett Motion
(
Free Report)
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.
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