Renaissance Technologies LLC Decreases Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

Renaissance Technologies LLC cut its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,286 shares of the company's stock after selling 132,514 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Garrett Motion worth $2,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in shares of Garrett Motion in the fourth quarter valued at about $15,442,000. Royce & Associates LP boosted its stake in shares of Garrett Motion by 25.6% in the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock worth $18,712,000 after buying an additional 422,955 shares during the last quarter. Four Tree Island Advisory LLC bought a new position 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% during 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 acquiring an additional 272,843 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Garrett Motion by 1,952.2% during the fourth quarter. Teacher Retirement System of Texas now owns 280,965 shares of the company's stock worth $2,537,000 after acquiring an additional 267,274 shares during the period. Institutional investors and hedge funds own 86.27% of the company's stock.

Insider Activity

In related news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total value of $875,326.34. Following the completion of the sale, the insider now owns 10,395,183 shares in the company, valued at $103,328,119.02. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares in the company, valued at $228,914,613. This trade 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 90 days. Insiders own 0.60% of the company's stock.

Garrett Motion Price Performance

Shares of Garrett Motion stock traded up $0.66 on Thursday, reaching $9.88. 427,472 shares of the company traded hands, compared to its average volume of 1,025,809. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $10.39. The company has a 50 day moving average of $8.91 and a 200 day moving average of $8.81. The firm has a market capitalization of $2.02 billion, a PE ratio of 7.89 and a beta of 0.67.

Analyst Ratings Changes

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

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.