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

New South Capital Management Inc. reduced its position in shares of Garrett Motion Inc. (NYSE:GTX) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,518,873 shares of the company’s stock after selling 191,369 shares during the period. New South Capital Management Inc.’s holdings in Garrett Motion were worth $22,745,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Garrett Motion during the fourth quarter worth about $15,442,000. Public Employees Retirement System of Ohio purchased a new stake in Garrett Motion during the third quarter worth about $5,928,000. Four Tree Island Advisory LLC purchased a new stake in Garrett Motion during the fourth quarter worth about $3,060,000. Seizert Capital Partners LLC increased its holdings in Garrett Motion by 76.6% during the third quarter. Seizert Capital Partners LLC now owns 659,132 shares of the company’s stock worth $5,392,000 after buying an additional 285,918 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Garrett Motion by 1,154.5% during the fourth quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company’s stock worth $2,677,000 after buying an additional 272,843 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

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 report on Tuesday, February 25th.

Garrett Motion Stock Performance

NYSE GTX opened at $9.35 on Thursday. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The company has a 50-day simple moving average of $9.38 and a 200 day simple moving average of $8.63. The company has a market capitalization of $1.92 billion, a PE ratio of 7.36 and a beta of 1.09.

Insider Transactions at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.