Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 51,865 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $11.00, for a total value of $570,515.00. Following the completion of the sale, the insider owned 23,653,333 shares in the company, valued at approximately $260,186,663. This represents a 0.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Cyrus Capital Partners, L.P. also recently made the following trade(s):
- On Friday, June 27th, Cyrus Capital Partners, L.P. sold 1,196,526 shares of Garrett Motion stock. The shares were 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 stock was sold at an average price of $11.25, for a total value of $1,743,750.00.
- On Wednesday, April 16th, Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock. The shares were sold at an average price of $9.00, for a total value of $1,350,000.00.
- On Monday, April 14th, Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05.
Garrett Motion Stock Up 0.0%
GTX traded up $0.01 on Thursday, hitting $11.00. 1,150,424 shares of the company traded hands, compared to its average volume of 1,357,059. The company has a 50 day moving average of $10.61 and a 200-day moving average of $9.62. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $12.09. The stock has a market capitalization of $2.23 billion, a PE ratio of 8.66 and a beta of 0.02.
Garrett Motion Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.18%. Garrett Motion's dividend payout ratio (DPR) is currently 18.60%.
Wall Street Analysts Forecast Growth
Separately, BWS Financial reiterated a "buy" rating and set a $14.00 price target on shares of Garrett Motion in a research note on Wednesday, June 25th.
Read Our Latest Report on Garrett Motion
Institutional Investors Weigh In On Garrett Motion
Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion during the 1st quarter worth $42,000. Vestcor Inc bought a new position in Garrett Motion during the 1st quarter valued at $61,000. Quarry LP raised its stake in Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after buying an additional 4,988 shares in the last quarter. Deutsche Bank AG lifted its stake in Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after purchasing an additional 5,329 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Garrett Motion in the 1st quarter valued at about $94,000. 86.27% of the stock is owned by institutional investors and hedge funds.
About Garrett Motion
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Garrett Motion, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Garrett Motion wasn't on the list.
While Garrett Motion currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
