Wealthfront Advisers LLC Makes New $224,000 Investment in Garrett Motion Inc. (NYSE:GTX)

Wealthfront Advisers LLC purchased a new position in Garrett Motion Inc. (NYSE:GTX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,858 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors have also added to or reduced their stakes in the company. Paloma Partners Management Co acquired a new stake in Garrett Motion in the third quarter worth about $87,000. Savant Capital LLC acquired a new stake in Garrett Motion in the fourth quarter worth about $96,000. Aigen Investment Management LP acquired a new stake in Garrett Motion in the third quarter worth about $116,000. XTX Topco Ltd purchased a new position in shares of Garrett Motion in the third quarter worth about $132,000. Finally, Entropy Technologies LP raised its stake in shares of Garrett Motion by 17.0% in the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock worth $147,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Stock Up 0.6 %

Shares of NYSE:GTX opened at $9.00 on Tuesday. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 7.09 and a beta of 1.09. The business has a 50-day moving average price of $9.39 and a 200-day moving average price of $8.68.

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 note on Tuesday, February 25th.

Insider Transactions at Garrett Motion

In related 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 transaction of $3,479,535.96. Following the completion of the transaction, the insider now directly owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,457,412 shares of company stock worth $13,973,062 over the last three months. 0.60% of the stock is currently owned by insiders.

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.