Comerica Bank Raises Position in Garrett Motion Inc. (NYSE:GTX)

Comerica Bank increased its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 10,164.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,779 shares of the company's stock after buying an additional 172,086 shares during the period. Comerica Bank owned 0.08% of Garrett Motion worth $1,569,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock valued at $2,430,000 after acquiring an additional 136,600 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Garrett Motion by 32.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after purchasing an additional 47,126 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Garrett Motion by 20,649.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 63,493 shares of the company's stock valued at $573,000 after purchasing an additional 63,187 shares in the last quarter. ARS Investment Partners LLC bought a new stake in Garrett Motion during the fourth quarter valued at approximately $181,000. Finally, Financial Advocates Investment Management purchased a new position in Garrett Motion in the 4th quarter worth approximately $191,000. Institutional investors own 86.27% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $282,956,895. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total value of $875,326.34. Following the transaction, the insider now directly owns 10,395,183 shares of the company's stock, valued at $103,328,119.02. The trade was a 0.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,264,853 shares of company stock valued at $30,663,903. Insiders own 0.83% of the company's stock.

Garrett Motion Stock Up 0.8%

Shares of Garrett Motion stock traded up $0.09 during trading on Wednesday, hitting $12.04. 2,008,833 shares of the stock traded hands, compared to its average volume of 1,086,860. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 9.48 and a beta of -0.05. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.22. The firm's fifty day moving average is $9.21 and its 200-day moving average is $9.03.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.06 dividend. 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 1.99%. Garrett Motion's dividend payout ratio (DPR) is 18.60%.

About Garrett Motion

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.