D. E. Shaw & Co. Inc. Sells 60,113 Shares of Garrett Motion Inc. (NYSE:GTX)

D. E. Shaw & Co. Inc. lessened its position in Garrett Motion Inc. (NYSE:GTX - Free Report) by 61.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,838 shares of the company's stock after selling 60,113 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Garrett Motion were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GTX. Quarry LP boosted its holdings in shares of Garrett Motion by 180.3% during the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after buying an additional 4,988 shares during the period. Savant Capital LLC bought a new stake in shares of Garrett Motion during the 4th quarter worth about $96,000. KLP Kapitalforvaltning AS bought a new stake in shares of Garrett Motion during the 4th quarter worth about $133,000. Pacific Global Investment Management Co. bought a new stake in shares of Garrett Motion during the 4th quarter worth about $150,000. Finally, Mariner LLC boosted its holdings 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 period. Institutional investors own 86.27% of the company's stock.

Analysts Set New Price Targets

Separately, BWS Financial lifted their target price on shares of 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

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 500,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $9.45, for a total transaction of $4,725,000.00. Following the sale, the insider now directly owns 9,949,894 shares of the company's stock, valued at $94,026,498.30. The trade was a 4.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $9.05, for a total transaction of $13,597,091.05. Following the completion of the sale, the insider now directly owns 25,834,957 shares in the company, valued at approximately $233,806,360.85. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,827,441 shares of company stock valued at $26,309,041. Company insiders own 0.83% of the company's stock.

Garrett Motion Stock Performance

Shares of GTX stock traded down $0.18 during midday trading on Thursday, hitting $10.68. 6,892,830 shares of the company were exchanged, compared to its average volume of 1,173,994. The firm has a market capitalization of $2.16 billion, a P/E ratio of 8.41 and a beta of -0.05. The firm's 50 day moving average price is $9.73 and its two-hundred day moving average price is $9.30. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.09.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's payout ratio is 18.60%.

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.