Dimensional Fund Advisors LP Grows Stake in Garrett Motion Inc. (NYSE:GTX)

Dimensional Fund Advisors LP raised its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,866,826 shares of the company's stock after purchasing an additional 278,107 shares during the quarter. Dimensional Fund Advisors LP owned about 1.34% of Garrett Motion worth $25,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eubel Brady & Suttman Asset Management Inc. acquired a new position in Garrett Motion during the 4th quarter worth $15,442,000. Royce & Associates LP raised its stake in Garrett Motion by 25.6% during the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock valued at $18,712,000 after acquiring an additional 422,955 shares in the last quarter. Marshall Wace LLP acquired a new stake in Garrett Motion in the fourth quarter worth about $3,565,000. Four Tree Island Advisory LLC acquired a new position in shares of Garrett Motion during the fourth quarter valued at approximately $3,060,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Garrett Motion by 1,154.5% in the fourth quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company's stock valued at $2,677,000 after buying an additional 272,843 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Stock Performance

Shares of Garrett Motion stock traded up $0.23 during midday trading on Friday, reaching $11.59. 1,924,483 shares of the company's stock traded hands, compared to its average volume of 1,070,906. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 9.13 and a beta of -0.05. The company's 50 day simple moving average is $9.10 and its 200 day simple moving average is $8.96. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $11.68.

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 given a $0.06 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.07%. Garrett Motion's dividend payout ratio is 18.60%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial lifted their target price on Garrett Motion from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, May 2nd.

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $9.05, for a total value of $13,597,091.05. Following the completion of the transaction, the insider now owns 25,834,957 shares in the company, valued at $233,806,360.85. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the completion of the transaction, the insider now directly owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,264,853 shares of company stock valued at $30,663,903 in the last ninety days. Company insiders own 0.83% of the company's stock.

Garrett Motion 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.