AWH Capital L.P. Has $4.55 Million Holdings in Garrett Motion Inc. $GTX

Key Points

• AWH Capital L.P. has reduced its holdings in Garrett Motion Inc. by 18.4%, now owning approximately 543,835 shares valued at $4.55 million.
• Several institutional investors, including Deutsche Bank AG and Pacific Global Investment Management Co., have made significant alterations to their positions in Garrett Motion, with a total of 86.27% of the stock owned by institutional investors.
• Garrett Motion recently announced a quarterly dividend of $0.06 to be paid on September 16th, and holds a current dividend yield of 1.8%.

AWH Capital L.P. trimmed its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 543,835 shares of the company's stock after selling 122,865 shares during the period. Garrett Motion comprises about 6.6% of AWH Capital L.P.'s holdings, making the stock its 7th biggest holding. AWH Capital L.P. owned 0.27% of Garrett Motion worth $4,552,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vestcor Inc acquired a new position in Garrett Motion during the first quarter valued at $61,000. Deutsche Bank AG grew its holdings in Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after purchasing an additional 5,329 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Garrett Motion in the first quarter valued at approximately $94,000. Mariner LLC boosted its position in shares of Garrett Motion by 35.6% in the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock valued at $175,000 after acquiring an additional 5,107 shares during the period. Finally, Pacific Global Investment Management Co. boosted its position in shares of Garrett Motion by 41.6% in the first quarter. Pacific Global Investment Management Co. now owns 23,568 shares of the company's stock valued at $197,000 after acquiring an additional 6,928 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Price Performance

Shares of Garrett Motion stock traded down $0.10 during midday trading on Friday, reaching $13.08. The company had a trading volume of 1,318,713 shares, compared to its average volume of 2,108,955. The stock has a fifty day moving average price of $12.34 and a 200 day moving average price of $10.65. The firm has a market cap of $2.64 billion, a PE ratio of 10.30 and a beta of 0.27. Garrett Motion Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $13.52.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. Garrett Motion's payout ratio is currently 16.78%.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $13.00, for a total value of $16,900,000.00. Following the transaction, the insider directly owned 21,128,348 shares of the company's stock, valued at approximately $274,668,524. The trade was a 5.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total value of $110,430,000.00. Following the completion of the transaction, the insider directly owned 4,740,569 shares in the company, valued at approximately $58,166,781.63. This trade represents a 65.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,907,224 shares of company stock worth $157,275,679. Insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GTX shares. BNP Paribas started coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating for the company. Zacks Research cut shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. BNP Paribas Exane began coverage on Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price target for the company. Finally, BWS Financial reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Garrett Motion in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

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.