LPL Financial LLC Sells 72,438 Shares of Garrett Motion Inc. (NYSE:GTX)

LPL Financial LLC reduced its stake in Garrett Motion Inc. (NYSE:GTX) by 56.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,705 shares of the company’s stock after selling 72,438 shares during the quarter. LPL Financial LLC’s holdings in Garrett Motion were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GTX. Savant Capital LLC purchased a new position in Garrett Motion during the fourth quarter valued at $96,000. KLP Kapitalforvaltning AS bought a new position in shares of Garrett Motion during the fourth quarter valued at $133,000. Pacific Global Investment Management Co. purchased a new position in shares of Garrett Motion in the 4th quarter worth about $150,000. ARS Investment Partners LLC bought a new position in Garrett Motion in the 4th quarter worth about $181,000. Finally, Financial Advocates Investment Management purchased a new stake in Garrett Motion during the 4th quarter valued at about $191,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 1.9 %

GTX opened at $9.17 on Friday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 7.22 and a beta of 0.67. The firm has a 50 day moving average price of $8.94 and a 200-day moving average price of $8.78. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $10.39.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and set a $12.00 price objective on shares of Garrett Motion in a research note on Friday, April 4th.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction on 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 owns 10,098,173 shares in the company, valued at $100,577,803.08. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the sale, the insider now directly owns 25,434,957 shares of the company’s stock, valued at approximately $228,914,613. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,109,853 shares of company stock worth $28,920,153 in the last three months. 0.60% of the stock is currently owned by company insiders.

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.