Banque Cantonale Vaudoise Purchases New Position in Garrett Motion Inc. (NYSE:GTX)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in Garrett Motion Inc., purchasing 25,456 shares valued at approximately $213,000 in the first quarter.
• Garrett Motion has received positive coverage from analysts, with both BNP Paribas Exane and BWS Financial assigning an "outperform" rating and a price target of $14.00 for the company's stock.
• The company announced a quarterly dividend of $0.06 per share, with an ex-dividend date of September 2nd, implying a 1.9% yield for shareholders.

Banque Cantonale Vaudoise acquired a new stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 25,456 shares of the company's stock, valued at approximately $213,000.

Several other institutional investors have also modified their holdings of GTX. Quarry LP grew its holdings in Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after purchasing an additional 4,988 shares during the period. Deutsche Bank AG raised its holdings in Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after acquiring an additional 5,329 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Garrett Motion in the fourth quarter valued at approximately $133,000. Mariner LLC lifted its position in shares of Garrett Motion by 35.6% during the 4th quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after buying an additional 5,107 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Garrett Motion by 181.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,949 shares of the company's stock valued at $189,000 after acquiring an additional 13,503 shares during the last quarter. Institutional investors own 86.27% of the company's stock.

Wall Street Analyst Weigh In

GTX has been the topic of several research analyst reports. BWS Financial reissued a "buy" rating and set a $14.00 target price on shares of Garrett Motion in a research note on Wednesday, June 25th. 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 for the company. Finally, BNP Paribas initiated coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating for the company.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 90,542 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $13.05, for a total transaction of $1,181,573.10. Following the sale, the insider directly owned 22,580,758 shares in the company, valued at approximately $294,678,891.90. This trade represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 5,102,224 shares of company stock valued at $54,139,429. Corporate insiders own 0.83% of the company's stock.

Garrett Motion Price Performance

GTX traded up $0.10 during midday trading on Thursday, reaching $12.67. 668,857 shares of the company's stock traded hands, compared to its average volume of 1,864,538. The firm has a fifty day moving average of $11.13 and a two-hundred day moving average of $10.11. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 9.96 and a beta of 0.01. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $13.32.

Garrett Motion Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.9%. Garrett Motion's dividend payout ratio is presently 16.78%.

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.