Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $875,326.34 in Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business’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 completion of the transaction, the insider now directly owns 10,395,183 shares in the company, valued at approximately $103,328,119.02. This represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Garrett Motion Trading Down 2.3 %

Shares of GTX stock opened at $9.76 on Friday. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.39. The firm’s 50 day moving average is $9.34 and its 200-day moving average is $8.58. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 7.69 and a beta of 1.15.

Garrett Motion Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System raised its position in shares of Garrett Motion by 11.4% during the fourth quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock worth $229,000 after acquiring an additional 2,586 shares during the last quarter. Entropy Technologies LP increased its position in Garrett Motion by 17.0% in the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock worth $147,000 after purchasing an additional 2,600 shares during the period. Covestor Ltd bought a new stake in Garrett Motion during the 3rd quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Garrett Motion by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company’s stock valued at $653,000 after purchasing an additional 3,774 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Garrett Motion by 14.3% in the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company’s stock valued at $281,000 after purchasing an additional 3,880 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.