MassMutual Private Wealth & Trust FSB Trims Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

MassMutual Private Wealth & Trust FSB decreased its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 83.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,698 shares of the company's stock after selling 52,795 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Garrett Motion were worth $90,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company's stock valued at $2,430,000 after buying an additional 136,600 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. purchased a new position in Garrett Motion during the fourth quarter worth about $15,442,000. Raymond James Financial Inc. bought a new position in shares of Garrett Motion during the 4th quarter worth approximately $326,000. VELA Investment Management LLC bought a new position in shares of Garrett Motion during the 4th quarter worth approximately $883,000. Finally, Sterling Capital Management LLC lifted its position in shares of Garrett Motion by 41.1% during the 4th quarter. Sterling Capital Management LLC now owns 233,895 shares of the company's stock worth $2,112,000 after buying an additional 68,093 shares in the last quarter. 86.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Garrett Motion Stock Performance

Shares of Garrett Motion stock traded up $0.02 during mid-day trading on Thursday, hitting $10.15. 1,631,125 shares of the stock were exchanged, compared to its average volume of 1,189,501. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $12.09. The company has a 50-day simple moving average of $9.94 and a 200 day simple moving average of $9.40. The company has a market capitalization of $2.06 billion, a P/E ratio of 7.99 and a beta of -0.05.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued 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 yield of 2.36%. Garrett Motion's dividend payout ratio (DPR) is presently 18.60%.

Insider Buying and Selling

In other news, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of Garrett Motion 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion stock in a transaction dated 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 transaction, the insider now owns 8,906,010 shares of the company's stock, valued at $91,731,903. The trade was a 25.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,327,441 shares of company stock worth $52,484,041. 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.