Raymond James Financial Inc. Acquires New Position in Garrett Motion Inc. (NYSE:GTX)

Raymond James Financial Inc. bought a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the 4th quarter, Holdings Channel reports. The firm bought 36,095 shares of the company’s stock, valued at approximately $326,000.

A number of other hedge funds also recently added to or reduced their stakes in GTX. Arizona State Retirement System boosted its stake in shares of Garrett Motion by 11.4% during the 4th quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock worth $229,000 after acquiring an additional 2,586 shares in the last quarter. Victory Capital Management Inc. boosted its position in Garrett Motion by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company’s stock worth $11,157,000 after purchasing an additional 9,681 shares in the last quarter. Savant Capital LLC acquired a new stake in Garrett Motion in the fourth quarter valued at $96,000. Handelsbanken Fonder AB increased its position in shares of Garrett Motion by 57.4% in the fourth quarter. Handelsbanken Fonder AB now owns 31,800 shares of the company’s stock valued at $287,000 after buying an additional 11,600 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Garrett Motion by 85.4% during the 3rd quarter. HighTower Advisors LLC now owns 27,221 shares of the company’s stock worth $217,000 after buying an additional 12,542 shares during the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Price Performance

Shares of NYSE GTX opened at $8.72 on Thursday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 6.87 and a beta of 0.67. Garrett Motion Inc. has a 1-year low of $7.02 and a 1-year high of $10.39. The business has a 50-day moving average of $9.02 and a 200-day moving average of $8.72.

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.

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the stock in a transaction dated 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 transaction, the insider now owns 10,395,183 shares of the company’s stock, valued at approximately $103,328,119.02. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 1,457,412 shares of company stock valued at $13,973,062 over the last 90 days. 0.60% of the stock is owned by corporate insiders.

Garrett Motion 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.