Garrett Motion Inc. (NYSE:GTX) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered 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 filing with the Securities and Exchange Commission (SEC). 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 0.08% of Garrett Motion worth $1,435,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in Garrett Motion during the 1st quarter worth $2,722,000. SG Americas Securities LLC purchased a new position in Garrett Motion during the 1st quarter worth $381,000. Raymond James Financial Inc. purchased a new position in Garrett Motion during the 4th quarter worth $326,000. Sterling Capital Management LLC raised its position in Garrett Motion by 41.1% during the 4th quarter. Sterling Capital Management LLC now owns 233,895 shares of the company's stock worth $2,112,000 after buying an additional 68,093 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Garrett Motion by 105.1% during the 4th quarter. First Trust Advisors LP now owns 226,506 shares of the company's stock worth $2,045,000 after buying an additional 116,086 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a "buy" rating and issued a $14.00 price target on shares of Garrett Motion in a report on Wednesday, June 25th.

Insider Transactions at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $9.05, for a total value of $13,597,091.05. Following the completion of the transaction, the insider owned 25,834,957 shares in the company, valued at $233,806,360.85. This trade represents a 5.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were 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 owned 8,906,010 shares of the company's stock, valued at $91,731,903. This represents a 25.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,506,728 shares of company stock valued at $65,742,322 in the last quarter. Insiders own 0.83% of the company's stock.

Garrett Motion Trading Down 1.8%

Shares of GTX traded down $0.21 during trading hours on Friday, reaching $11.28. The company had a trading volume of 1,325,773 shares, compared to its average volume of 1,389,897. The firm has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $9.72. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 8.88 and a beta of 0.01. 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.06 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.13%. Garrett Motion's dividend payout ratio is presently 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.