Garrett Motion (NYSE:GTX) Reaches New 52-Week Low – Should You Sell?

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

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and set a $12.00 target price on shares of Garrett Motion in a research note on Friday.

Garrett Motion Trading Down 3.4 %

The company has a market capitalization of $1.50 billion, a PE ratio of 5.78 and a beta of 0.67. The firm has a 50 day simple moving average of $9.20 and a two-hundred day simple moving average of $8.72.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction that occurred 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 sale, the insider now owns 10,098,173 shares of the company’s stock, valued at approximately $100,577,803.08. The trade was a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,457,412 shares of company stock worth $13,973,062 in the last three months. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GTX. Quarry LP lifted its holdings in Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company’s stock valued at $70,000 after acquiring an additional 4,988 shares during the period. Deutsche Bank AG increased its holdings in shares of Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company’s stock valued at $74,000 after purchasing an additional 5,329 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Garrett Motion in the third quarter valued at about $87,000. Savant Capital LLC purchased a new stake in Garrett Motion during the fourth quarter worth about $96,000. Finally, XTX Topco Ltd acquired a new position in Garrett Motion during the third quarter worth about $132,000. Institutional investors and hedge funds 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.