Garrett Motion (NYSE:GTX) Sets New 1-Year Low – Here’s Why

Garrett Motion Inc. (NYSE:GTX) shares reached a new 52-week low on Friday . The stock traded as low as $7.02 and last traded at $7.30, with a volume of 380514 shares traded. The stock had previously closed at $7.60.

Wall Street Analysts Forecast Growth

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

Garrett Motion Trading Down 3.4 %

The stock has a 50 day moving average of $9.15 and a 200-day moving average of $8.71. The company has a market capitalization of $1.50 billion, a P/E ratio of 5.78 and a beta of 0.67.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34. Following the sale, the insider now directly owns 10,395,183 shares of the company’s stock, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,457,412 shares of company stock valued at $13,973,062 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Garrett Motion

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTX. Gates Capital Management Inc. bought a new position in Garrett Motion in the 4th quarter worth approximately $40,068,000. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Garrett Motion during the fourth quarter worth $15,442,000. Frontier Capital Management Co. LLC purchased a new position in Garrett Motion during the fourth quarter valued at $13,147,000. Public Employees Retirement System of Ohio bought a new stake in Garrett Motion in the 3rd quarter valued at $5,928,000. Finally, Prevatt Capital Ltd lifted its stake in Garrett Motion by 18.2% in the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock worth $29,348,000 after purchasing an additional 500,000 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

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.