New South Capital Management Inc. Sells 191,369 Shares of Garrett Motion Inc. (NYSE:GTX)

New South Capital Management Inc. cut its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,518,873 shares of the company’s stock after selling 191,369 shares during the quarter. New South Capital Management Inc. owned approximately 1.18% of Garrett Motion worth $22,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Eubel Brady & Suttman Asset Management Inc. bought a new position in Garrett Motion during the fourth quarter worth $15,442,000. Royce & Associates LP boosted its stake in Garrett Motion by 7.1% during the third quarter. Royce & Associates LP now owns 1,649,218 shares of the company’s stock worth $13,491,000 after acquiring an additional 109,430 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Garrett Motion by 5.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,419,485 shares of the company’s stock worth $11,611,000 after acquiring an additional 70,246 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of Garrett Motion by 25.0% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company’s stock valued at $10,501,000 after buying an additional 256,366 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Garrett Motion by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company’s stock valued at $11,157,000 after buying an additional 9,681 shares in the last quarter. 86.27% of the stock is owned by institutional investors.

Garrett Motion Trading Down 1.0 %

Garrett Motion stock opened at $9.35 on Thursday. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.39. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 7.36 and a beta of 1.09. The firm’s fifty day moving average price is $9.38 and its two-hundred day moving average price is $8.63.

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were 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 $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

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

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.