Garrett Motion Inc. (NYSE:GTX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 21.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,490 shares of the company's stock after selling 29,496 shares during the period. JPMorgan Chase & Co. owned 0.05% of Garrett Motion worth $989,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in Garrett Motion by 11.4% in the 4th quarter. Arizona State Retirement System now owns 25,362 shares of the company's stock worth $229,000 after buying an additional 2,586 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Garrett Motion by 5.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company's stock worth $653,000 after buying an additional 3,774 shares during the period. HighTower Advisors LLC boosted its holdings in Garrett Motion by 14.3% in the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after buying an additional 3,880 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Garrett Motion by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company's stock valued at $11,157,000 after purchasing an additional 9,681 shares during the last quarter. Finally, Savant Capital LLC bought a new position in shares of Garrett Motion during the 4th quarter valued at about $96,000. Institutional investors own 86.27% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a "buy" rating and issued a $12.00 price target on shares of Garrett Motion in a research report on Friday, April 4th.

Insider Activity at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total value of $875,326.34. Following the transaction, the insider now directly owns 10,395,183 shares of the company's stock, valued at approximately $103,328,119.02. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total value of $1,350,000.00. Following the completion of the transaction, the insider now directly owns 25,434,957 shares in the company, valued at $228,914,613. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,109,853 shares of company stock valued at $28,920,153 in the last ninety days. Corporate insiders own 0.60% of the company's stock.

Garrett Motion Stock Performance

NYSE:GTX traded up $0.76 during mid-day trading on Thursday, hitting $9.98. 1,332,297 shares of the company's stock traded hands, compared to its average volume of 1,028,910. The company has a fifty day moving average of $8.91 and a 200 day moving average of $8.81. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $10.39. The company has a market capitalization of $2.04 billion, a P/E ratio of 7.86 and a beta of 0.67.

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.