Northern Trust Corp Purchases 58,045 Shares of Garrett Motion Inc. (NYSE:GTX)

Northern Trust Corp increased its position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 18.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,976 shares of the company's stock after purchasing an additional 58,045 shares during the quarter. Northern Trust Corp owned 0.17% of Garrett Motion worth $3,341,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP increased its position in Garrett Motion by 180.3% in the fourth 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 period. Savant Capital LLC bought a new stake in Garrett Motion in the fourth quarter worth about $96,000. KLP Kapitalforvaltning AS bought a new stake in Garrett Motion in the fourth quarter worth about $133,000. Pacific Global Investment Management Co. bought a new stake in Garrett Motion in the fourth quarter worth about $150,000. Finally, Mariner LLC raised its position in Garrett Motion by 35.6% in the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after acquiring an additional 5,107 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now owns 25,434,957 shares of the company's stock, valued at $228,914,613. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the completion of the sale, the insider now directly owns 10,098,173 shares of the company's stock, valued at approximately $100,577,803.08. The trade was a 3.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,176,792 shares of company stock valued at $29,788,577. 0.83% of the stock is owned by corporate insiders.

Garrett Motion Stock Performance

GTX traded down $0.29 during trading on Wednesday, reaching $11.00. The company had a trading volume of 2,913,236 shares, compared to its average volume of 1,133,579. The firm's 50-day simple moving average is $9.70 and its 200 day simple moving average is $9.29. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 8.66 and a beta of -0.05. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $12.09.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.06 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.18%. Garrett Motion's dividend payout ratio is currently 18.60%.

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.