Geode Capital Management LLC lowered its position in shares of Garrett Motion Inc (NYSE:GTX) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 544,340 shares of the company’s stock after selling 236,341 shares during the quarter. Geode Capital Management LLC owned approximately 0.74% of Garrett Motion worth $6,717,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Exane Derivatives acquired a new stake in shares of Garrett Motion during the fourth quarter worth $25,000. First Manhattan Co. acquired a new stake in shares of Garrett Motion during the fourth quarter worth $26,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of Garrett Motion during the fourth quarter worth $28,000. TCI Wealth Advisors Inc. acquired a new stake in shares of Garrett Motion during the fourth quarter worth $30,000. Finally, LS Investment Advisors LLC acquired a new stake in shares of Garrett Motion during the fourth quarter worth $30,000. Institutional investors own 82.00% of the company’s stock.
NYSE:GTX traded up $0.03 on Friday, reaching $18.28. The company’s stock had a trading volume of 862,943 shares, compared to its average volume of 582,273. Garrett Motion Inc has a 1-year low of $11.01 and a 1-year high of $22.00. The stock has a market cap of $1.36 billion and a price-to-earnings ratio of 4.51.
GTX has been the subject of a number of analyst reports. Royal Bank of Canada raised Garrett Motion from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $11.00 to $15.00 in a research note on Wednesday, January 23rd. Zacks Investment Research cut Garrett Motion from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Desjardins cut Garrett Motion to a “buy” rating in a research note on Wednesday, January 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 target price on shares of Garrett Motion in a research note on Thursday, February 21st. Finally, Barclays reissued a “hold” rating on shares of Garrett Motion in a research note on Thursday, February 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Garrett Motion currently has a consensus rating of “Hold” and an average price target of $15.00.
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About Garrett Motion
Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.
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