William Blair Investment Management LLC Sells 2,129,199 Shares of Garrett Motion Inc. (NYSE:GTX)

William Blair Investment Management LLC decreased its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,392,597 shares of the company’s stock after selling 2,129,199 shares during the quarter. William Blair Investment Management LLC owned about 3.46% of Garrett Motion worth $66,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Garrett Motion in the fourth quarter worth $15,442,000. Public Employees Retirement System of Ohio bought a new position in shares of Garrett Motion in the third quarter worth $5,928,000. Royce & Associates LP increased its holdings in shares of Garrett Motion by 25.6% in the fourth quarter. Royce & Associates LP now owns 2,072,173 shares of the company’s stock worth $18,712,000 after purchasing an additional 422,955 shares during the period. Four Tree Island Advisory LLC bought a new position in shares of Garrett Motion in the fourth quarter worth $3,060,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Garrett Motion by 1,154.5% in the fourth quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company’s stock worth $2,677,000 after purchasing an additional 272,843 shares during the period. Institutional investors own 86.27% of the company’s stock.

Analysts Set New Price Targets

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

Garrett Motion Stock Performance

Garrett Motion stock opened at $9.00 on Tuesday. The stock has a market cap of $1.85 billion, a P/E ratio of 7.09 and a beta of 1.09. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $10.39. The firm’s fifty day moving average price is $9.39 and its 200-day moving average price is $8.68.

Insider Activity at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96. Following the transaction, the insider now owns 10,098,173 shares of the company’s stock, valued at $100,577,803.08. This represents a 3.34 % 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 a total of 1,457,412 shares of company stock valued at $13,973,062 over the last 90 days. 0.60% of the stock is owned by insiders.

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.