Arizona State Retirement System Boosts Stake in Garrett Motion Inc. (NYSE:GTX)

Arizona State Retirement System increased its stake in Garrett Motion Inc. (NYSE:GTX) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,362 shares of the company’s stock after acquiring an additional 2,586 shares during the period. Arizona State Retirement System’s holdings in Garrett Motion were worth $229,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc purchased a new position in shares of Garrett Motion in the 3rd quarter worth about $237,000. Covestor Ltd bought a new position in Garrett Motion during the third quarter valued at approximately $28,000. Entropy Technologies LP raised its stake in shares of Garrett Motion by 17.0% during the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock worth $147,000 after acquiring an additional 2,600 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Garrett Motion in the 3rd quarter worth approximately $616,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Garrett Motion in the 3rd quarter valued at $116,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Trading Up 3.1 %

NYSE GTX opened at $8.95 on Friday. The firm has a market cap of $1.83 billion, a PE ratio of 7.05 and a beta of 1.09. Garrett Motion Inc. has a 1-year low of $7.13 and a 1-year high of $10.39. The stock has a 50-day moving average of $9.39 and a 200-day moving average of $8.67.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and issued a $12.00 target price 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 88,061 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total value of $875,326.34. Following the sale, the insider now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,457,412 shares of company stock valued at $13,973,062 in the last ninety days. Company insiders own 0.60% of the company’s stock.

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.