Janney Montgomery Scott LLC Acquires New Holdings in Garrett Motion Inc. (NYSE:GTX)

Janney Montgomery Scott LLC bought a new position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 SEC filing.

Several other hedge funds have also modified their holdings of the stock. Gates Capital Management Inc. purchased a new position in Garrett Motion in the 4th quarter worth about $40,068,000. Frontier Capital Management Co. LLC purchased a new stake in Garrett Motion during the fourth quarter valued at about $13,147,000. Prevatt Capital Ltd boosted its holdings in shares of Garrett Motion by 18.2% in the fourth quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company's stock worth $29,348,000 after buying an additional 500,000 shares during the period. Royce & Associates LP increased its position in shares of Garrett Motion by 25.6% in 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 in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Garrett Motion in the fourth quarter worth approximately $3,565,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion 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 owns 8,906,010 shares of the company's stock, valued at approximately $91,731,903. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00. Following the completion of the transaction, the insider now owns 25,151,724 shares in the company, valued at $282,956,895. This trade represents a 0.61% 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 valued at $47,590,841 in the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

Garrett Motion Stock Up 2.0%

Shares of GTX traded up $0.21 during mid-day trading on Friday, reaching $10.50. The company's stock had a trading volume of 24,616,518 shares, compared to its average volume of 1,337,345. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 8.27 and a beta of 0.02. The business has a fifty day moving average of $10.51 and a 200 day moving average of $9.59. Garrett Motion Inc. has a 1 year low of $7.02 and a 1 year high of $12.09.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.06 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.29%. Garrett Motion's dividend payout ratio (DPR) is presently 18.60%.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a "buy" rating and issued a $14.00 price target 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.