Garrett Motion Inc. (NYSE:GTX - Get Free Report) traded up 6.5% during trading on Monday . The company traded as high as $7.94 and last traded at $7.82. 776,227 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 945,345 shares. The stock had previously closed at $7.34.
Wall Street Analysts Forecast Growth
Separately, BWS Financial reiterated a "buy" rating and set a $12.00 price objective on shares of Garrett Motion in a research report on Friday, April 4th.
Check Out Our Latest Stock Analysis on Garrett Motion
Garrett Motion Price Performance
The business's 50-day moving average is $8.99 and its 200 day moving average is $8.73. The firm has a market capitalization of $1.81 billion, a P/E ratio of 6.94 and a beta of 0.67.
Insider Transactions at Garrett Motion
In related news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was 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 $92,177,386.44. The trade was a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 1,457,412 shares of company stock valued at $13,973,062. 0.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Garrett Motion
A number of large investors have recently bought and sold shares of GTX. Barclays PLC increased its stake in shares of Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock valued at $2,430,000 after purchasing an additional 136,600 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in Garrett Motion in the fourth quarter valued at about $15,442,000. Assenagon Asset Management S.A. grew its position in Garrett Motion by 32.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock valued at $1,755,000 after acquiring an additional 47,126 shares during the last quarter. VELA Investment Management LLC acquired a new position in Garrett Motion during the fourth quarter worth about $883,000. Finally, Four Tree Island Advisory LLC bought a new position in shares of Garrett Motion in the fourth quarter worth about $3,060,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.
About Garrett Motion
(
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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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