Millennium Management LLC Decreases Position in Garrett Motion Inc. (NYSE:GTX)

Millennium Management LLC cut its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 806,277 shares of the company's stock after selling 250,174 shares during the period. Millennium Management LLC owned 0.38% of Garrett Motion worth $7,281,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP boosted its holdings in Garrett Motion by 180.3% in the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after purchasing an additional 4,988 shares during the period. Deutsche Bank AG boosted its holdings in Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after purchasing an additional 5,329 shares during the period. Savant Capital LLC bought a new position in Garrett Motion in the 4th quarter valued at $96,000. KLP Kapitalforvaltning AS bought a new position in Garrett Motion in the 4th quarter valued at $133,000. Finally, Pacific Global Investment Management Co. bought a new position in Garrett Motion in the 4th quarter valued at $150,000. 86.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of Garrett Motion stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.41, for a total value of $4,893,200.00. Following the transaction, the insider now owns 9,795,684 shares in the company, valued at $92,177,386.44. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $10.30, for a total transaction of $30,900,000.00. Following the completion of the transaction, the insider now owns 8,906,010 shares in the company, valued at approximately $91,731,903. The trade was a 25.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,827,441 shares of company stock valued at $57,209,041. Insiders own 0.83% of the company's stock.

Garrett Motion Stock Down 0.6%

Shares of NYSE GTX traded down $0.06 during mid-day trading on Friday, reaching $10.62. 2,357,446 shares of the company were exchanged, compared to its average volume of 1,171,980. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.09. The stock has a market capitalization of $2.15 billion, a PE ratio of 8.36 and a beta of -0.05. The company's 50 day moving average price is $9.81 and its 200 day moving average price is $9.35.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, June 2nd. 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.