Garrett Motion Inc. (NYSE:GTX) Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 56.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,705 shares of the company's stock after selling 72,438 shares during the period. LPL Financial LLC's holdings in Garrett Motion were worth $503,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Barclays PLC raised its holdings 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 in the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $15,442,000. Raymond James Financial Inc. acquired a new position in Garrett Motion in the fourth quarter valued at $326,000. Assenagon Asset Management S.A. lifted its position in Garrett Motion by 32.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after acquiring an additional 47,126 shares during the period. Finally, VELA Investment Management LLC acquired a new position in Garrett Motion in the 4th quarter valued at $883,000. Institutional investors and hedge funds own 86.27% of the company's stock.

Wall Street Analysts Forecast Growth

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

Garrett Motion Trading Up 0.1 %

Shares of GTX stock traded up $0.01 during trading hours on Wednesday, hitting $9.22. The company's stock had a trading volume of 1,302,189 shares, compared to its average volume of 1,027,467. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $10.39. The business has a fifty day moving average of $8.91 and a 200-day moving average of $8.81. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 7.26 and a beta of 0.67.

Insider Buying and Selling

In related news, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05. Following the transaction, the insider now directly owns 25,834,957 shares in the company, valued at approximately $233,806,360.85. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the completion of the sale, the insider now owns 10,098,173 shares of the company's stock, valued at approximately $100,577,803.08. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,109,853 shares of company stock worth $28,920,153. 0.60% of the stock is owned by corporate insiders.

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.