Northern Trust Corp Has $3.34 Million Stock Position in Garrett Motion Inc. (NYSE:GTX)

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

Several other institutional investors and hedge funds have also bought and sold shares of GTX. Arizona State Retirement System lifted its position in shares of Garrett Motion by 11.4% during the fourth quarter. Arizona State Retirement System now owns 25,362 shares of the company's stock valued at $229,000 after purchasing an additional 2,586 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Garrett Motion by 5.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company's stock worth $653,000 after buying an additional 3,774 shares during the last quarter. HighTower Advisors LLC increased its holdings in Garrett Motion by 14.3% during the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after buying an additional 3,880 shares during the last quarter. Quarry LP increased its holdings in Garrett Motion by 180.3% during 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 last quarter. Finally, Mariner LLC increased its holdings in Garrett Motion by 35.6% during the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after buying an additional 5,107 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total value of $1,350,000.00. Following the completion of the sale, the insider now directly owns 25,434,957 shares of the company's stock, valued at $228,914,613. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.41, for a total transaction of $4,893,200.00. Following the transaction, the insider now directly owns 9,795,684 shares of the company's stock, valued at $92,177,386.44. The trade was a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,827,441 shares of company stock worth $26,309,041. 0.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Garrett Motion Stock Down 1.7%

NYSE:GTX traded down $0.18 during mid-day trading on Thursday, hitting $10.68. 6,892,830 shares of the stock traded hands, compared to its average volume of 1,164,646. The business's 50-day moving average price is $9.77 and its 200 day moving average price is $9.32. The company has a market cap of $2.16 billion, a PE ratio of 8.41 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, June 2nd. Garrett Motion's payout ratio is 18.60%.

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.