Garrett Motion Inc. (NYSE:GTX) Major Shareholder Cyrus Capital Partners, L.P. Sells 58,829 Shares

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 58,829 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $11.80, for a total transaction of $694,182.20. Following the completion of the sale, the insider owned 22,846,995 shares in the company, valued at $269,594,541. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more 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 Monday, July 21st, Cyrus Capital Partners, L.P. sold 43 shares of Garrett Motion stock. The shares were sold at an average price of $11.76, for a total value of $505.68.
• On Friday, July 18th, Cyrus Capital Partners, L.P. sold 1,172 shares of Garrett Motion stock. The shares were 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 value of $284,070.06.
• On Wednesday, July 16th, Cyrus Capital Partners, L.P. sold 51,718 shares of Garrett Motion stock. The shares were sold at an average price of $11.63, for a total value of $601,480.34.
• On Thursday, July 10th, Cyrus Capital Partners, L.P. sold 150,896 shares of Garrett Motion stock. The shares were sold at an average price of $11.50, for a total value of $1,735,304.00.
• On Monday, July 7th, Cyrus Capital Partners, L.P. sold 300,000 shares of Garrett Motion stock. The shares were 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 shares were 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 transaction 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 transaction of $1,743,750.00.

Garrett Motion Price Performance

GTX traded up $0.75 on Friday, reaching $12.94. 3,635,057 shares of the company's stock were exchanged, compared to its average volume of 1,862,224. The stock has a market cap of $2.62 billion, a PE ratio of 10.19 and a beta of 0.01. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $13.08. The stock's fifty day moving average price is $10.84 and its 200-day moving average price is $9.88.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.85%. Garrett Motion's payout ratio is presently 16.78%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price target for the company. BWS Financial restated a "buy" rating and set a $14.00 price target on shares of Garrett Motion in a research report on Wednesday, June 25th. Finally, BNP Paribas assumed coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They set an "outperform" rating for the company.

Hedge Funds Weigh In On Garrett Motion

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in Garrett Motion in the 4th quarter valued at about $326,000. HighTower Advisors LLC grew its position in Garrett Motion by 14.3% in the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock valued at $281,000 after acquiring an additional 3,880 shares in the last quarter. Swiss National Bank grew its position in Garrett Motion by 11.3% in the 4th quarter. Swiss National Bank now owns 172,000 shares of the company's stock valued at $1,553,000 after acquiring an additional 17,500 shares in the last quarter. Teacher Retirement System of Texas grew its position in Garrett Motion by 1,952.2% in the 4th quarter. Teacher Retirement System of Texas now owns 280,965 shares of the company's stock valued at $2,537,000 after acquiring an additional 267,274 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Garrett Motion during the 4th quarter worth about $133,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

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.