Northern Trust Corp Boosts Stake in Garrett Motion Inc. (NYSE:GTX)

Northern Trust Corp lifted its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 369,976 shares of the company's stock after purchasing an additional 58,045 shares during the period. Northern Trust Corp owned 0.17% of Garrett Motion worth $3,341,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its holdings in Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after acquiring an additional 136,600 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Garrett Motion by 32.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after purchasing an additional 47,126 shares in the last quarter. Financial Advocates Investment Management bought a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $191,000. Savant Capital LLC bought a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $96,000. Finally, Four Tree Island Advisory LLC purchased a new stake in shares of Garrett Motion during the 4th quarter valued at approximately $3,060,000. Institutional investors own 86.27% of the company's stock.

Wall Street Analysts Forecast Growth

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

Garrett Motion Stock Up 2.9%

Shares of NYSE:GTX traded up $0.32 during midday trading on Tuesday, reaching $11.28. 2,922,499 shares of the company traded hands, compared to its average volume of 1,126,040. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $12.09. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 8.88 and a beta of -0.05. The firm's fifty day moving average price is $9.65 and its two-hundred day moving average price is $9.28.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, June 2nd. Garrett Motion's dividend payout ratio is presently 18.60%.

Insider Activity

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96. Following the sale, the insider now owns 10,098,173 shares of the company's stock, valued at $100,577,803.08. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $9.05, for a total value of $13,597,091.05. Following the transaction, the insider now directly owns 25,834,957 shares of the company's stock, valued at $233,806,360.85. The trade was a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176,792 shares of company stock worth $29,788,577 over the last ninety days. Company insiders own 0.83% of the company's stock.

Garrett Motion Company 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.