Jane Street Group LLC Sells 234,461 Shares of Garrett Motion Inc. (NYSE:GTX)

Jane Street Group LLC decreased its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 95.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,258 shares of the company's stock after selling 234,461 shares during the quarter. Jane Street Group LLC's holdings in Garrett Motion were worth $111,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in shares of Garrett Motion by 11.4% during the 4th quarter. Arizona State Retirement System now owns 25,362 shares of the company's stock worth $229,000 after acquiring an additional 2,586 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Garrett Motion by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company's stock worth $653,000 after acquiring an additional 3,774 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Garrett Motion by 14.3% during the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after acquiring an additional 3,880 shares during the last quarter. Quarry LP increased its holdings in shares of Garrett Motion by 180.3% during the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after acquiring an additional 4,988 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of Garrett Motion by 35.6% during the 4th quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after acquiring an additional 5,107 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

Garrett Motion Price Performance

NYSE GTX traded down $0.11 on Wednesday, reaching $10.22. The stock had a trading volume of 1,267,400 shares, compared to its average volume of 1,203,867. The firm has a fifty day moving average of $10.14 and a two-hundred day moving average of $9.47. The company has a market cap of $2.07 billion, a P/E ratio of 8.05 and a beta of 0.02. Garrett Motion Inc. has a 1-year low of $7.02 and a 1-year high of $12.09.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.35%. Garrett Motion's payout ratio is 18.60%.

Insider Activity

In related news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the company's 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 sale, the insider now directly owns 8,906,010 shares in the company, valued at $91,731,903. This represents a 25.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $9.05, for a total value of $13,597,091.05. Following the sale, the insider now owns 25,834,957 shares of the company's stock, valued at approximately $233,806,360.85. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,807,441 shares of company stock worth $47,590,841. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.