Comerica Bank Increases Stake in Garrett Motion Inc. (NYSE:GTX)

Comerica Bank increased its position in Garrett Motion Inc. (NYSE:GTX - Free Report) by 10,164.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 173,779 shares of the company's stock after acquiring an additional 172,086 shares during the period. Comerica Bank owned about 0.08% of Garrett Motion worth $1,569,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Barclays PLC raised its holdings in Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after purchasing an additional 136,600 shares during the period. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Garrett Motion in the 4th quarter worth approximately $15,442,000. Raymond James Financial Inc. purchased a new stake in Garrett Motion in the 4th quarter worth approximately $326,000. Assenagon Asset Management S.A. increased its holdings in Garrett Motion by 32.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after acquiring an additional 47,126 shares in the last quarter. Finally, VELA Investment Management LLC purchased a new stake in Garrett Motion in the 4th quarter worth approximately $883,000. Institutional investors own 86.27% of the company's stock.

Analysts Set New Price Targets

Separately, BWS Financial upped their target price 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 Stock Up 0.5%

NYSE GTX traded up $0.06 on Friday, reaching $11.94. The company had a trading volume of 504,940 shares, compared to its average volume of 1,083,487. The stock has a market capitalization of $2.42 billion, a PE ratio of 9.40 and a beta of -0.05. The firm's 50 day moving average price is $9.32 and its 200 day moving average price is $9.08. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $12.09.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 annualized dividend and a yield of 2.01%. Garrett Motion's dividend payout ratio (DPR) is currently 18.60%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the completion of the transaction, the insider now owns 10,098,173 shares in the company, valued at $100,577,803.08. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00. Following the sale, the insider now owns 25,434,957 shares of the company's stock, valued at approximately $228,914,613. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,264,853 shares of company stock worth $30,663,903 over the last 90 days. 0.83% of the stock is owned by insiders.

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.