Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 51,718 Shares of Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 51,718 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $11.63, for a total transaction of $601,480.34. Following the sale, the insider directly owned 22,931,072 shares in the company, valued at approximately $266,688,367.36. This represents a 0.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Friday, July 18th, Cyrus Capital Partners, L.P. sold 1,172 shares of Garrett Motion stock. The stock was sold at an average price of $11.76, for a total value of $13,782.72.
• On Thursday, July 17th, Cyrus Capital Partners, L.P. sold 24,033 shares of Garrett Motion stock. The shares were sold at an average price of $11.82, for a total transaction of $284,070.06.
• On Thursday, July 10th, Cyrus Capital Partners, L.P. sold 150,896 shares of Garrett Motion stock. The stock was sold at an average price of $11.50, for a total transaction of $1,735,304.00.
• On Monday, July 7th, Cyrus Capital Partners, L.P. sold 300,000 shares of Garrett Motion stock. The stock was sold at an average price of $11.10, for a total value of $3,330,000.00.
• On Wednesday, July 2nd, Cyrus Capital Partners, L.P. sold 51,865 shares of Garrett Motion stock. The stock was sold at an average price of $11.00, for a total value of $570,515.00.
• On Friday, June 27th, Cyrus Capital Partners, L.P. sold 1,196,526 shares of Garrett Motion stock. The stock was sold at an average price of $10.46, for a total value of $12,515,661.96.
• On Monday, May 5th, Cyrus Capital Partners, L.P. sold 155,000 shares of Garrett Motion stock. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00.

Garrett Motion Stock Performance

Shares of NYSE:GTX traded down $0.01 during midday trading on Tuesday, reaching $11.61. 1,396,643 shares of the company's stock were exchanged, compared to its average volume of 1,404,881. The company's 50 day simple moving average is $10.85 and its two-hundred day simple moving average is $9.81. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $12.09. The firm has a market capitalization of $2.35 billion, a PE ratio of 9.14 and a beta of 0.01.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) is presently 18.60%.

Wall Street Analysts Forecast Growth

GTX has been the subject of a number of research analyst reports. BNP Paribas Exane began coverage on Garrett Motion in a research report on Wednesday, July 16th. They issued an "outperform" rating and a $14.00 target price for the company. BWS Financial restated a "buy" rating and set a $14.00 price objective on shares of Garrett Motion in a research report on Wednesday, June 25th. Finally, BNP Paribas started coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GTX. Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion during the first quarter worth $42,000. Vestcor Inc bought a new stake in Garrett Motion during the first quarter worth $61,000. Quarry LP raised its stake in shares of Garrett Motion by 180.3% during the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after purchasing an additional 4,988 shares during the period. Deutsche Bank AG raised its position in Garrett Motion by 185.5% in the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after acquiring an additional 5,329 shares during the period. Finally, Virtu Financial LLC purchased a new position in Garrett Motion in the first quarter valued at approximately $94,000. 86.27% of the stock is currently owned by institutional investors.

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.