Aquatic Capital Management LLC Sells 35,629 Shares of Garrett Motion Inc. (NYSE:GTX)

Aquatic Capital Management LLC decreased its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 46.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,571 shares of the company's stock after selling 35,629 shares during the quarter. Aquatic Capital Management LLC's holdings in Garrett Motion were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Savant Capital LLC purchased a new position in Garrett Motion during the fourth quarter worth about $96,000. KLP Kapitalforvaltning AS bought a new position in shares of Garrett Motion in the fourth quarter valued at approximately $133,000. Pacific Global Investment Management Co. purchased a new stake in shares of Garrett Motion during the fourth quarter valued at approximately $150,000. Mariner LLC lifted its holdings in Garrett Motion by 35.6% during the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after acquiring an additional 5,107 shares during the period. Finally, ARS Investment Partners LLC purchased a new position in Garrett Motion in the fourth quarter worth $181,000. Institutional investors and hedge funds own 86.27% of the company's stock.

Garrett Motion Trading Down 0.1 %

Shares of GTX stock traded down $0.02 during trading hours on Wednesday, hitting $11.25. 1,198,866 shares of the company were exchanged, compared to its average volume of 1,056,976. Garrett Motion Inc. has a 52-week low of $7.02 and a 52-week high of $11.45. The firm has a fifty day simple moving average of $8.99 and a 200 day simple moving average of $8.89. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 8.85 and a beta of -0.05.

Garrett Motion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.13%. Garrett Motion's dividend payout ratio is presently 18.60%.

Insider Transactions at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34. Following the sale, the insider now owns 10,395,183 shares of the company's stock, valued at approximately $103,328,119.02. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total value of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares of the company's stock, valued at $228,914,613. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,109,853 shares of company stock worth $28,920,153. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, BWS Financial boosted their price target on shares of Garrett Motion from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, May 2nd.

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.