Four Tree Island Advisory LLC Raises Stock Position in Garrett Motion Inc. (NYSE:GTX)

Four Tree Island Advisory LLC grew its position in Garrett Motion Inc. (NYSE:GTX - Free Report) by 10.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 375,852 shares of the company's stock after buying an additional 36,969 shares during the period. Garrett Motion accounts for about 2.2% of Four Tree Island Advisory LLC's portfolio, making the stock its 11th largest position. Four Tree Island Advisory LLC owned approximately 0.18% of Garrett Motion worth $3,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Quarry LP lifted its stake in Garrett Motion by 180.3% during the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after acquiring an additional 4,988 shares during the period. Deutsche Bank AG lifted 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 valued at $74,000 after acquiring an additional 5,329 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Garrett Motion during the 4th quarter valued at approximately $133,000. Mariner LLC lifted its stake in Garrett Motion by 35.6% during the 4th quarter. Mariner LLC now owns 19,434 shares of the company's stock valued at $175,000 after acquiring an additional 5,107 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in 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 acquiring an additional 13,503 shares during the period. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GTX has been the subject of several research reports. BWS Financial restated a "buy" rating and set a $14.00 price objective on shares of Garrett Motion in a research note on Wednesday, June 25th. BNP Paribas started coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating for the company. Finally, BNP Paribas Exane started coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 target price for the company.

Garrett Motion Stock Up 2.5%

Shares of NYSE:GTX traded up $0.30 during trading on Thursday, hitting $12.09. 2,731,088 shares of the stock traded hands, compared to its average volume of 1,842,669. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 9.53 and a beta of 0.01. The company has a fifty day moving average price of $10.83 and a two-hundred day moving average price of $9.86. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $12.78.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) is 18.60%.

Insider Activity 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 shares were sold at an average price of $10.30, for a total value of $30,900,000.00. Following the completion of the sale, the insider owned 8,906,010 shares of the company's stock, valued at approximately $91,731,903. The trade was a 25.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $10.46, for a total transaction of $12,515,661.96. Following the completion of the sale, the insider directly owned 23,705,198 shares of the company's stock, valued at approximately $247,956,371.08. The trade was a 4.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,990,082 shares of company stock valued at $52,389,252. Insiders own 0.83% of the company's stock.

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.