Garrett Motion Inc. (NYSE:GTX) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. trimmed its position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,655 shares of the company's stock after selling 82,904 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Garrett Motion were worth $575,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GTX. Dimensional Fund Advisors LP grew its stake in Garrett Motion by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock valued at $25,886,000 after acquiring an additional 278,107 shares during the period. Gamco Investors INC. ET AL lifted its stake in Garrett Motion by 6.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company's stock valued at $19,536,000 after buying an additional 130,873 shares in the last quarter. Royce & Associates LP boosted its holdings in Garrett Motion by 25.6% in the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock worth $18,712,000 after buying an additional 422,955 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Garrett Motion during the 4th quarter worth approximately $15,442,000. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Garrett Motion by 11.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,579,376 shares of the company's stock valued at $14,262,000 after acquiring an additional 159,891 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the transaction, the insider now directly owns 10,098,173 shares in the company, valued at $100,577,803.08. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $11.25, for a total transaction of $1,743,750.00. Following the completion of the sale, the insider now directly owns 25,151,724 shares of the company's stock, valued at approximately $282,956,895. This trade represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,264,853 shares of company stock valued at $30,663,903 in the last ninety days. 0.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Garrett Motion Stock Performance

Shares of NYSE:GTX traded down $0.05 during midday trading on Monday, hitting $11.95. The company's stock had a trading volume of 1,320,275 shares, compared to its average volume of 1,089,611. The company has a market cap of $2.42 billion, a P/E ratio of 9.41 and a beta of -0.05. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $12.09. The business's 50 day simple moving average is $9.37 and its 200 day simple moving average is $9.13.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) is 18.60%.

Garrett Motion 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.