DHK Financial Advisors Inc. Takes Position in Garrett Motion Inc. (NYSE:GTX)

DHK Financial Advisors Inc. acquired a new position in Garrett Motion Inc. (NYSE:GTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 53,160 shares of the company's stock, valued at approximately $445,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GTX. Gates Capital Management Inc. bought a new stake in Garrett Motion during the 4th quarter valued at approximately $40,068,000. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter worth $15,442,000. Frontier Capital Management Co. LLC bought a new position in Garrett Motion during the fourth quarter worth $13,147,000. Prevatt Capital Ltd raised its stake in Garrett Motion by 18.2% during the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company's stock valued at $29,348,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Garrett Motion by 25.6% in the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock valued at $18,712,000 after purchasing an additional 422,955 shares during the period. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Garrett Motion Trading Up 0.4%

GTX opened at $10.19 on Friday. The stock's 50 day simple moving average is $9.98 and its 200-day simple moving average is $9.42. The stock has a market cap of $2.06 billion, a PE ratio of 8.02 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 firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) is presently 18.60%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial upped their price objective on shares of Garrett Motion from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, May 2nd.

Insider Buying and Selling at Garrett Motion

In related news, 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 value of $30,900,000.00. Following the sale, the insider now owns 8,906,010 shares of the company's stock, valued at $91,731,903. The trade was a 25.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the business'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 owns 25,834,957 shares in the company, valued at $233,806,360.85. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,807,441 shares of company stock valued at $47,590,841 in the last 90 days. 0.83% of the stock is currently owned by company insiders.

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.

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