Garrett Motion Inc. (NYSE:GTX) Shares Sold by D. E. Shaw & Co. Inc.

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its stake in Garrett Motion by 180.3% in the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after buying an additional 4,988 shares in the last quarter. Savant Capital LLC purchased a new position in Garrett Motion in the 4th quarter valued at about $96,000. KLP Kapitalforvaltning AS purchased a new position in Garrett Motion in the 4th quarter valued at about $133,000. Pacific Global Investment Management Co. purchased a new position in Garrett Motion in the 4th quarter worth approximately $150,000. Finally, Mariner LLC lifted its stake in Garrett Motion by 35.6% in the 4th quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after purchasing an additional 5,107 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Garrett Motion Trading Down 0.6%

GTX stock traded down $0.06 during midday trading on Friday, hitting $10.62. 2,357,446 shares of the company's stock were exchanged, compared to its average volume of 1,171,980. The business has a 50-day simple moving average of $9.81 and a two-hundred day simple moving average of $9.35. The stock has a market capitalization of $2.15 billion, a PE ratio of 8.36 and a beta of -0.05. Garrett Motion Inc. has a 1-year low of $7.02 and a 1-year 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 $0.06 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.26%. Garrett Motion's dividend payout ratio (DPR) is presently 18.60%.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.41, for a total value of $4,893,200.00. Following the completion of the transaction, the insider now owns 9,795,684 shares in the company, valued at $92,177,386.44. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $30,900,000.00. Following the completion of the transaction, the insider now owns 8,906,010 shares of the company's stock, valued at approximately $91,731,903. This trade represents a 25.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,827,441 shares of company stock worth $57,209,041. Insiders own 0.83% of the company's 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.