Bank of New York Mellon Corp Acquires 272,843 Shares of Garrett Motion Inc. (NYSE:GTX)

Bank of New York Mellon Corp grew its position in Garrett Motion Inc. (NYSE:GTX) by 1,154.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 296,477 shares of the company’s stock after purchasing an additional 272,843 shares during the period. Bank of New York Mellon Corp’s holdings in Garrett Motion were worth $2,677,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company’s stock worth $2,430,000 after buying an additional 136,600 shares during the period. Pekin Hardy Strauss Inc. raised its holdings in shares of Garrett Motion by 63.9% during the third quarter. Pekin Hardy Strauss Inc. now owns 155,450 shares of the company’s stock valued at $1,272,000 after acquiring an additional 60,600 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in Garrett Motion by 25.0% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company’s stock worth $10,501,000 after purchasing an additional 256,366 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new position in shares of Garrett Motion during the 4th quarter worth approximately $15,442,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Garrett Motion by 32.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company’s stock valued at $1,755,000 after acquiring an additional 47,126 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $8.97 on Friday. The business has a 50-day moving average of $9.39 and a 200 day moving average of $8.68. Garrett Motion Inc. has a 12 month low of $7.13 and a 12 month high of $10.39. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 7.06 and a beta of 1.09.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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 stock was sold at an average price of $9.94, for a total value of $875,326.34. Following the sale, the insider now directly owns 10,395,183 shares in the company, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 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 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.