Guyasuta Investment Advisors Inc. Cuts Position in Garrett Motion Inc. (NYSE:GTX)

Guyasuta Investment Advisors Inc. cut its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 59.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,655 shares of the company's stock after selling 134,555 shares during the period. Guyasuta Investment Advisors Inc.'s holdings in Garrett Motion were worth $759,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP lifted its stake in Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after purchasing an additional 4,988 shares during the last quarter. Deutsche Bank AG lifted its stake in Garrett Motion by 185.5% in the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after purchasing an additional 5,329 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Garrett Motion in the fourth quarter worth $133,000. Pacific Global Investment Management Co. bought a new stake in Garrett Motion in the fourth quarter worth $150,000. Finally, Mariner LLC lifted its stake in Garrett Motion by 35.6% in the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after purchasing an additional 5,107 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, BWS Financial boosted their price target 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 Up 1.9%

Shares of NYSE:GTX traded up $0.19 during midday trading on Tuesday, hitting $9.91. 2,512,537 shares of the stock traded hands, compared to its average volume of 1,228,589. The stock has a market capitalization of $2.01 billion, a PE ratio of 7.80 and a beta of 0.02. The business's 50 day moving average is $10.41 and its two-hundred day moving average is $9.57. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $12.09.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) is 18.60%.

Insider Activity

In related news, 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 value of $30,900,000.00. Following the completion of the transaction, the insider now directly owns 8,906,010 shares of the company's stock, valued at $91,731,903. This represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the insider now directly owns 25,434,957 shares of the company's stock, valued at approximately $228,914,613. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,807,441 shares of company stock valued at $47,590,841. Insiders own 0.83% of the company's stock.

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.