De Lisle Partners LLP Raises Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

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 shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,520 shares of the company's stock after acquiring an additional 50,000 shares during the period. De Lisle Partners LLP owned about 0.19% of Garrett Motion worth $3,329,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GTX. BNP Paribas Exane began coverage on Garrett Motion in a research report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price target on the stock. BWS Financial reiterated a "buy" rating and set a $14.00 price objective on shares of Garrett Motion in a research report on Wednesday, June 25th. Finally, BNP Paribas started coverage on Garrett Motion in a research note on Wednesday, July 16th. They set an "outperform" rating for the company.

Insider Buying and Selling

In other news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $10.30, for a total value of $30,900,000.00. Following the transaction, the insider owned 8,906,010 shares of the company's stock, valued at $91,731,903. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 58,829 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $11.80, for a total transaction of $694,182.20. Following the sale, the insider directly owned 22,846,995 shares of the company's stock, valued at approximately $269,594,541. This represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,990,082 shares of company stock valued at $52,389,252 in the last ninety days. Company insiders own 0.83% of the company's stock.

Garrett Motion Stock Performance

Shares of NYSE GTX opened at $13.09 on Tuesday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 10.31 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. The business has a 50 day simple moving average of $10.88 and a 200 day simple moving average of $9.95.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 2nd. Garrett Motion's dividend payout ratio is 16.78%.

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.

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