New South Capital Management Inc. Raises Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

New South Capital Management Inc. raised its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 65.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,164,333 shares of the company's stock after purchasing an additional 1,645,460 shares during the period. Garrett Motion makes up about 1.7% of New South Capital Management Inc.'s investment portfolio, making the stock its 26th largest holding. New South Capital Management Inc. owned 2.04% of Garrett Motion worth $34,855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB lifted its position in Garrett Motion by 57.4% during the fourth quarter. Handelsbanken Fonder AB now owns 31,800 shares of the company's stock valued at $287,000 after purchasing an additional 11,600 shares during the period. Bank of New York Mellon Corp raised its stake in Garrett Motion by 1,154.5% during the 4th quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company's stock valued at $2,677,000 after buying an additional 272,843 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Garrett Motion by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 807,950 shares of the company's stock valued at $7,296,000 after buying an additional 25,818 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Garrett Motion by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company's stock worth $11,157,000 after buying an additional 9,681 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Garrett Motion by 11.4% in the 4th quarter. Arizona State Retirement System now owns 25,362 shares of the company's stock worth $229,000 after buying an additional 2,586 shares during the last quarter. Institutional investors own 86.27% of the company's stock.

Analyst Ratings Changes

Separately, BWS Financial reiterated a "buy" rating and issued a $14.00 price objective on shares of Garrett Motion in a research note on Wednesday, June 25th.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $10.30, for a total value of $30,900,000.00. Following the completion of the sale, the insider owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 51,865 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $11.00, for a total value of $570,515.00. Following the sale, the insider owned 23,653,333 shares in the company, valued at $260,186,663. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,055,832 shares of company stock worth $60,677,018 in the last ninety days. Insiders own 0.83% of the company's stock.

Garrett Motion Stock Up 0.0%

NYSE GTX traded up $0.01 on Friday, reaching $11.00. The company had a trading volume of 1,150,424 shares, compared to its average volume of 1,364,341. The firm's 50 day moving average price is $10.68 and its 200 day moving average price is $9.64. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $12.09. The stock has a market capitalization of $2.23 billion, a PE ratio of 8.66 and a beta of 0.02.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.18%. Garrett Motion's dividend payout ratio is currently 18.60%.

About Garrett Motion

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.