Knights of Columbus Asset Advisors LLC Buys Shares of 225,125 Garrett Motion Inc. (NYSE:GTX)

Key Points

• Knights of Columbus Asset Advisors LLC acquired 225,125 shares of Garrett Motion Inc. (NYSE:GTX), valued at approximately $1.88 million, increasing their ownership to 0.11% of the company.
• Major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares at an average price of $10.46, and Centerbridge Credit Partners M sold 3,000,000 shares at an average price of $10.30, marking significant reductions in their stakes.
• Garrett Motion announced a $0.06 quarterly dividend scheduled for September 16th, representing an annualized yield of 1.85% and indicating a payout ratio of 16.78%.

Knights of Columbus Asset Advisors LLC purchased a new stake in Garrett Motion Inc. (NYSE:GTX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 225,125 shares of the company's stock, valued at approximately $1,884,000. Knights of Columbus Asset Advisors LLC owned 0.11% of Garrett Motion as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in shares of Garrett Motion during the 1st quarter worth approximately $2,722,000. SG Americas Securities LLC bought a new position in shares of Garrett Motion during the 1st quarter worth approximately $381,000. Victory Capital Management Inc. boosted its holdings in shares of Garrett Motion by 4.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,290,509 shares of the company's stock worth $10,802,000 after buying an additional 54,978 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Garrett Motion during the 4th quarter worth approximately $326,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Garrett Motion by 41.1% during the 4th quarter. Sterling Capital Management LLC now owns 233,895 shares of the company's stock worth $2,112,000 after buying an additional 68,093 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Price Performance

Shares of NYSE:GTX traded down $0.10 during trading on Wednesday, reaching $12.97. 393,922 shares of the stock were exchanged, compared to its average volume of 1,858,533. Garrett Motion Inc. has a 1-year low of $7.01 and a 1-year high of $13.32. The stock has a fifty day moving average of $10.90 and a two-hundred day moving average of $9.97. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 10.22 and a beta of 0.01.

Garrett Motion Announces Dividend

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

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $10.46, for a total value of $12,515,661.96. Following the transaction, the insider owned 23,705,198 shares of the company's stock, valued at approximately $247,956,371.08. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $10.30, for a total value of $30,900,000.00. Following the completion of the transaction, the insider directly owned 8,906,010 shares in the company, valued at approximately $91,731,903. This represents a 25.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,990,082 shares of company stock worth $52,389,252. Insiders own 0.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BNP Paribas assumed coverage on Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating on the stock. BWS Financial restated a "buy" rating and set a $14.00 price objective on shares of Garrett Motion in a report on Wednesday, June 25th. Finally, BNP Paribas Exane initiated coverage on Garrett Motion in a research report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 target price on the stock.

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.