Garrett Motion Inc. (NYSE:GTX) Stake Lifted by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 41.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 233,895 shares of the company’s stock after purchasing an additional 68,093 shares during the period. Sterling Capital Management LLC’s holdings in Garrett Motion were worth $2,112,000 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 the company. Savant Capital LLC acquired a new position in shares of Garrett Motion during the 4th quarter valued at $96,000. XTX Topco Ltd acquired a new position in Garrett Motion during the third quarter worth about $132,000. KLP Kapitalforvaltning AS bought a new stake in Garrett Motion in the fourth quarter worth about $133,000. Pacific Global Investment Management Co. bought a new stake in Garrett Motion in the fourth quarter worth about $150,000. Finally, ARS Investment Partners LLC acquired a new stake in Garrett Motion in the 4th quarter valued at about $181,000. Institutional investors own 86.27% of the company’s stock.

Insider Activity at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.41, for a total value of $4,893,200.00. Following the completion of the transaction, the insider now owns 9,795,684 shares of the company’s stock, valued at approximately $92,177,386.44. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,457,412 shares of company stock worth $13,973,062 in the last quarter. 0.60% of the stock is owned by company insiders.

Garrett Motion Stock Performance

Shares of NYSE:GTX opened at $8.81 on Monday. The company has a market capitalization of $1.80 billion, a PE ratio of 6.94 and a beta of 0.67. The stock has a fifty day moving average of $8.99 and a 200-day moving average of $8.73. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $10.39.

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 report on Friday, April 4th.

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.