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

Four Tree Island Advisory LLC grew its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 10.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 375,852 shares of the company's stock after buying an additional 36,969 shares during the quarter. Garrett Motion accounts for approximately 2.2% of Four Tree Island Advisory LLC's portfolio, making the stock its 11th biggest 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.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GW&K Investment Management LLC raised its position in shares of Garrett Motion by 0.9% during the 1st quarter. GW&K Investment Management LLC now owns 2,210,458 shares of the company's stock worth $18,502,000 after acquiring an additional 19,412 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Garrett Motion by 4.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,290,509 shares of the company's stock worth $10,802,000 after acquiring an additional 54,978 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Garrett Motion by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 303,054 shares of the company's stock worth $2,537,000 after acquiring an additional 6,577 shares in the last quarter. VELA Investment Management LLC raised its position in shares of Garrett Motion by 22.9% during the 1st quarter. VELA Investment Management LLC now owns 120,192 shares of the company's stock worth $1,006,000 after acquiring an additional 22,371 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new stake in shares of Garrett Motion during the 1st quarter worth about $2,182,000. Institutional investors and hedge funds own 86.27% of the company's stock.

Analyst Upgrades and Downgrades

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

Garrett Motion Stock Up 2.5%

GTX traded up $0.30 during trading on Friday, hitting $12.49. 1,159,270 shares of the stock were exchanged, compared to its average volume of 1,844,094. The firm has a market capitalization of $2.53 billion, a P/E ratio of 9.85 and a beta of 0.01. Garrett Motion Inc. has a 1-year low of $7.01 and a 1-year high of $12.78. The stock has a fifty day moving average price of $10.84 and a two-hundred day moving average price of $9.88.

Garrett Motion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.06 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.92%. Garrett Motion's dividend payout ratio (DPR) is currently 16.78%.

Insider Activity at Garrett Motion

In other Garrett Motion news, 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 sale, the insider directly owned 23,705,198 shares in the company, valued at approximately $247,956,371.08. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $30,900,000.00. Following the sale, the insider owned 8,906,010 shares in the company, valued at approximately $91,731,903. The trade was a 25.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,990,082 shares of company stock worth $52,389,252 over the last quarter. Company 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.