OMERS ADMINISTRATION Corp Has $577,000 Stock Position in Garrett Motion Inc. (NYSE:GTX)

OMERS ADMINISTRATION Corp reduced its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,850 shares of the company's stock after selling 63,850 shares during the period. OMERS ADMINISTRATION Corp's holdings in Garrett Motion were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gates Capital Management Inc. bought a new position in Garrett Motion in the 4th quarter valued at approximately $40,068,000. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 278,107 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Garrett Motion by 6.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company's stock valued at $19,536,000 after acquiring an additional 130,873 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Garrett Motion by 25.6% during the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock valued at $18,712,000 after acquiring an additional 422,955 shares in the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. acquired a new stake in shares of Garrett Motion during the 4th quarter valued at $15,442,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Trading Up 8.0%

NYSE:GTX traded up $0.83 during mid-day trading on Thursday, hitting $11.18. 3,368,678 shares of the company's stock were exchanged, compared to its average volume of 1,109,580. Garrett Motion Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $12.09. The firm has a market capitalization of $2.27 billion, a P/E ratio of 8.80 and a beta of -0.05. The company has a 50 day simple moving average of $9.53 and a 200-day simple moving average of $9.18.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's payout ratio is presently 18.60%.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the transaction, the insider now owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $11.25, for a total transaction of $1,743,750.00. Following the sale, the insider now owns 25,151,724 shares of the company's stock, valued at approximately $282,956,895. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,264,853 shares of company stock worth $30,663,903. Insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

Garrett Motion Company 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.