Special Credit Pa Centerbridge Sells 349,351 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the sale, the insider now directly owns 10,098,173 shares of the company’s stock, valued at approximately $100,577,803.08. This represents a 3.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The stock was sold at an average price of $9.94, for a total value of $875,326.34.

Garrett Motion Trading Down 2.1 %

Shares of GTX stock opened at $9.44 on Wednesday. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.39. The company’s 50-day moving average price is $9.37 and its 200-day moving average price is $8.62. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 7.43 and a beta of 1.09.

Garrett Motion Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a yield of 2.7%. Garrett Motion’s payout ratio is 18.90%.

Analyst Ratings Changes

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

Institutional Trading of Garrett Motion

Several hedge funds have recently made changes to their positions in GTX. New South Capital Management Inc. lifted its holdings in Garrett Motion by 19.0% in the third quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after acquiring an additional 431,779 shares during the last quarter. Barclays PLC raised its position in Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company’s stock valued at $2,430,000 after purchasing an additional 136,600 shares during the period. Pekin Hardy Strauss Inc. raised its position in Garrett Motion by 63.9% in the third quarter. Pekin Hardy Strauss Inc. now owns 155,450 shares of the company’s stock valued at $1,272,000 after purchasing an additional 60,600 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of Garrett Motion by 25.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company’s stock valued at $10,501,000 after purchasing an additional 256,366 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Garrett Motion during the 3rd quarter worth $616,000. Hedge funds and other institutional investors 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.