Janney Montgomery Scott LLC Takes Position in Garrett Motion Inc. (NYSE:GTX)

Janney Montgomery Scott LLC bought a new stake in Garrett Motion Inc. (NYSE:GTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 325,252 shares of the company's stock, valued at approximately $2,722,000. Janney Montgomery Scott LLC owned 0.16% of Garrett Motion as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in GTX. Quarry LP lifted its stake in shares of Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after purchasing an additional 4,988 shares during the period. Deutsche Bank AG lifted its position in shares of Garrett Motion by 185.5% during the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after acquiring an additional 5,329 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Garrett Motion during the 4th quarter worth approximately $133,000. Pacific Global Investment Management Co. acquired a new stake in shares of Garrett Motion in the 4th quarter worth approximately $150,000. Finally, Mariner LLC increased its stake in Garrett Motion by 35.6% in the 4th 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. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Stock Down 1.4%

Shares of GTX stock traded down $0.14 during mid-day trading on Wednesday, hitting $9.93. 1,301,701 shares of the company's stock were exchanged, compared to its average volume of 1,234,480. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 7.82 and a beta of 0.02. Garrett Motion Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $12.09. The stock has a 50-day simple moving average of $10.43 and a two-hundred day simple moving average of $9.57.

Garrett Motion Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, June 2nd. Garrett Motion's dividend payout ratio is currently 18.60%.

Insider Transactions at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares of the company's stock, valued at approximately $228,914,613. This trade represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, 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 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 owns 8,906,010 shares in the company, valued at $91,731,903. The trade was a 25.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,807,441 shares of company stock worth $47,590,841 in the last three months. Company insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

Separately, BWS Financial restated a "buy" rating and set a $14.00 target price on shares of Garrett Motion in a research report on Wednesday.

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.