Gabelli Funds LLC Raises Stock Position in Garrett Motion Inc. (NYSE:GTX)

Gabelli Funds LLC lifted its position in Garrett Motion Inc. (NYSE:GTX) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,245,356 shares of the company’s stock after purchasing an additional 67,193 shares during the period. Gabelli Funds LLC owned 0.58% of Garrett Motion worth $11,246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mariner LLC lifted its holdings in shares of Garrett Motion by 35.6% in the 4th quarter. Mariner LLC now owns 19,434 shares of the company’s stock worth $175,000 after buying an additional 5,107 shares during the period. Barclays PLC lifted its stake in Garrett Motion by 37.7% in the fourth quarter. Barclays PLC now owns 408,960 shares of the company’s stock worth $3,693,000 after acquiring an additional 111,938 shares during the period. Sterling Capital Management LLC grew its holdings in Garrett Motion by 41.1% during the 4th quarter. Sterling Capital Management LLC now owns 233,895 shares of the company’s stock worth $2,112,000 after acquiring an additional 68,093 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Garrett Motion during the 4th quarter valued at about $326,000. Finally, Aristides Capital LLC raised its holdings in shares of Garrett Motion by 57.3% in the 4th quarter. Aristides Capital LLC now owns 41,960 shares of the company’s stock valued at $379,000 after purchasing an additional 15,290 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 10,098,173 shares of the company’s stock, valued at approximately $100,577,803.08. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $9.05, for a total value of $13,597,091.05. Following the sale, the insider now owns 25,834,957 shares of the company’s stock, valued at approximately $233,806,360.85. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,109,853 shares of company stock worth $28,920,153 over the last quarter. Insiders own 0.60% of the company’s stock.

Garrett Motion Stock Performance

GTX opened at $8.94 on Thursday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 7.04 and a beta of 0.67. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $10.39. The stock has a fifty day moving average price of $8.95 and a 200-day moving average price of $8.74.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and set a $12.00 price objective on shares of Garrett Motion in a research note 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.