Garrett Motion Inc. (NYSE:GTX) Shares Acquired by De Lisle Partners LLP

Key Points

• De Lisle Partners LLP increased its stake in Garrett Motion Inc. by 14.4%, owning 397,520 shares valued at approximately $3.33 million following the acquisition of an additional 50,000 shares.
• Institutional investors now hold 86.27% of Garrett Motion's stock, with significant boosts in holdings from firms like Quarry LP and Deutsche Bank AG during the fourth quarter.
• Garrett Motion recently announced a quarterly dividend of $0.06 per share, resulting in an annualized dividend yield of 1.83%, payable on September 16th.

De Lisle Partners LLP grew its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 14.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 397,520 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. De Lisle Partners LLP owned about 0.19% of Garrett Motion worth $3,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Garrett Motion by 5.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company's stock valued at $653,000 after acquiring an additional 3,774 shares during the period. HighTower Advisors LLC grew its stake in Garrett Motion by 14.3% during the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after buying an additional 3,880 shares during the last quarter. Quarry LP grew its stake in 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 last quarter. Mariner LLC grew its stake in 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, Deutsche Bank AG grew its stake in Garrett Motion by 185.5% during the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after buying an additional 5,329 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BNP Paribas assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They set an "outperform" rating on the stock. BNP Paribas Exane began coverage on Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 target price for the company. Finally, BWS Financial reaffirmed a "buy" rating and set a $14.00 target price on shares of Garrett Motion in a report on Wednesday, June 25th.

Insider Activity at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 32,361 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $13.03, for a total value of $421,663.83. Following the sale, the insider owned 22,671,300 shares in the company, valued at $295,407,039. This represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 5,165,777 shares of company stock valued at $54,689,825 in the last quarter. 0.83% of the stock is owned by corporate insiders.

Garrett Motion Stock Down 1.2%

Shares of GTX traded down $0.15 during mid-day trading on Friday, reaching $12.89. The company had a trading volume of 1,557,644 shares, compared to its average volume of 1,865,566. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $13.32. The stock has a market capitalization of $2.60 billion, a P/E ratio of 10.15 and a beta of 0.01. The stock has a 50 day moving average of $10.99 and a two-hundred day moving average of $10.02.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 dividend on an annualized basis 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.