Wealthfront Advisers LLC Purchases New Position in Garrett Motion Inc. (NYSE:GTX)

Wealthfront Advisers LLC purchased a new stake in shares of Garrett Motion Inc. (NYSE:GTX) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 24,858 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GTX. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $15,442,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Garrett Motion in the third quarter valued at approximately $5,928,000. Four Tree Island Advisory LLC purchased a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $3,060,000. Bank of New York Mellon Corp increased its position in shares of Garrett Motion by 1,154.5% in the fourth quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company’s stock valued at $2,677,000 after buying an additional 272,843 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of Garrett Motion by 25.0% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company’s stock valued at $10,501,000 after buying an additional 256,366 shares in the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Garrett Motion Price Performance

Shares of NYSE:GTX opened at $9.00 on Tuesday. The business’s 50 day moving average price is $9.39 and its 200-day moving average price is $8.68. The firm has a market capitalization of $1.85 billion, a PE ratio of 7.09 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.

Insider Transactions at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96. Following the sale, the insider now directly owns 10,098,173 shares of the company’s stock, valued at $100,577,803.08. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 1,457,412 shares of company stock valued at $13,973,062 over the last ninety days. Insiders own 0.60% of the company’s stock.

About Garrett Motion

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.