Special Credit Pa Centerbridge Sells 500,000 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 500,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $9.45, for a total transaction of $4,725,000.00. Following the transaction, the insider now owns 9,949,894 shares in the company, valued at approximately $94,026,498.30. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The stock was sold at an average price of $9.96, for a total transaction of $3,479,535.96.
• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Trading Up 2.3 %

Shares of NYSE GTX opened at $9.46 on Monday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 7.45 and a beta of 1.09. Garrett Motion Inc. has a 12 month low of $7.13 and a 12 month high of $10.39. The company has a 50 day simple moving average of $9.39 and a two-hundred day simple moving average of $8.65.

Institutional Trading of Garrett Motion

A number of hedge funds have recently modified their holdings of GTX. Gates Capital Management Inc. acquired a new stake in shares of Garrett Motion during the 4th quarter worth approximately $40,068,000. Prevatt Capital Ltd increased its holdings in Garrett Motion by 18.2% in the fourth quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock valued at $29,348,000 after buying an additional 500,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Garrett Motion by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company’s stock worth $25,886,000 after acquiring an additional 278,107 shares during the period. New South Capital Management Inc. grew its position in shares of Garrett Motion by 19.0% during the 3rd quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after acquiring an additional 431,779 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in shares of Garrett Motion by 6.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company’s stock valued at $19,536,000 after purchasing an additional 130,873 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial reissued a “buy” rating and set a $12.00 price objective on shares of Garrett Motion in a report on Tuesday, February 25th.

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.