HighTower Advisors LLC Acquires 3,880 Shares of Garrett Motion Inc. (NYSE:GTX)

HighTower Advisors LLC boosted its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 14.3% during the fourth quarter, Holdings Channel reports. The fund owned 31,101 shares of the company’s stock after acquiring an additional 3,880 shares during the period. HighTower Advisors LLC’s holdings in Garrett Motion were worth $281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eubel Brady & Suttman Asset Management Inc. bought a new stake in shares of Garrett Motion during the fourth quarter valued at approximately $15,442,000. Public Employees Retirement System of Ohio bought a new position in Garrett Motion in the 3rd quarter valued at $5,928,000. Four Tree Island Advisory LLC bought a new position in Garrett Motion in the 4th quarter valued at $3,060,000. Bank of New York Mellon Corp lifted its stake 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 period. Finally, Barclays PLC boosted its holdings in Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company’s stock valued at $2,430,000 after acquiring an additional 136,600 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Price Performance

GTX opened at $8.19 on Thursday. The firm has a 50 day simple moving average of $9.24 and a 200 day simple moving average of $8.72. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $10.39. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 6.45 and a beta of 1.09.

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a research report on Tuesday, February 25th.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.41, for a total transaction of $4,893,200.00. Following the transaction, the insider now owns 9,795,684 shares in the company, valued at approximately $92,177,386.44. This trade represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 1,457,412 shares of company stock valued at $13,973,062. Company insiders own 0.60% of the company’s stock.

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.