Jane Street Group LLC Has $111,000 Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

Jane Street Group LLC trimmed its position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 95.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GTX. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Garrett Motion during the fourth quarter worth about $15,442,000. Royce & Associates LP raised its position in shares of Garrett Motion by 25.6% during the fourth quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock worth $18,712,000 after acquiring an additional 422,955 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Garrett Motion during the fourth quarter worth about $3,565,000. Four Tree Island Advisory LLC bought a new position in shares of Garrett Motion during the fourth quarter worth about $3,060,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Garrett Motion by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock worth $25,886,000 after acquiring an additional 278,107 shares during the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the business's stock in a transaction that occurred 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 owns 8,906,010 shares in the company, valued at $91,731,903. The trade was a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the business's stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,807,441 shares of company stock valued at $47,590,841. 0.83% of the stock is currently owned by company insiders.

Garrett Motion Stock Performance

Shares of GTX opened at $10.19 on Friday. Garrett Motion Inc. has a 52-week low of $7.02 and a 52-week high of $12.09. The business's 50 day moving average price is $9.98 and its two-hundred day moving average price is $9.43. The firm has a market cap of $2.06 billion, a PE ratio of 8.02 and a beta of 0.02.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.