Teacher Retirement System of Texas Sells 109,511 Shares of Garrett Motion Inc. (NYSE:GTX)

Teacher Retirement System of Texas decreased its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 39.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,454 shares of the company's stock after selling 109,511 shares during the period. Teacher Retirement System of Texas owned about 0.08% of Garrett Motion worth $1,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of 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 in the last quarter. Deutsche Bank AG increased its holdings in shares of Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after buying an additional 5,329 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $133,000. Mariner LLC increased its holdings in shares of Garrett Motion by 35.6% in the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock valued at $175,000 after purchasing an additional 5,107 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Garrett Motion by 181.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,949 shares of the company's stock valued at $189,000 after purchasing an additional 13,503 shares in the last quarter. Institutional investors own 86.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on GTX shares. BNP Paribas Exane started coverage on shares of Garrett Motion in a report on Wednesday. They issued an "outperform" rating and a $14.00 price target for the company. BNP Paribas started coverage on shares of Garrett Motion in a report on Wednesday. They issued an "outperform" rating for the company. Finally, BWS Financial reissued a "buy" rating and issued a $14.00 price target on shares of Garrett Motion in a report on Wednesday, June 25th.

Insider Buying and Selling

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $10.46, for a total value of $12,515,661.96. Following the transaction, the insider directly owned 23,705,198 shares of the company's stock, valued at approximately $247,956,371.08. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider directly owned 8,906,010 shares in the company, valued at approximately $91,731,903. This represents a 25.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,854,287 shares of company stock worth $50,795,231. Insiders own 0.60% of the company's stock.

Garrett Motion Stock Up 6.7%

GTX stock traded up $0.74 during midday trading on Wednesday, reaching $11.80. The company's stock had a trading volume of 1,706,281 shares, compared to its average volume of 1,394,018. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.09. The stock has a market cap of $2.39 billion, a PE ratio of 9.29 and a beta of 0.01. The business's 50-day simple moving average is $10.83 and its 200-day simple moving average is $9.75.

Garrett Motion Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.03%. Garrett Motion's payout ratio is presently 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.