PharVision Advisers LLC bought a new position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,842 shares of the company's stock, valued at approximately $297,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Gates Capital Management Inc. acquired a new position in Garrett Motion in the 4th quarter worth $40,068,000. Prevatt Capital Ltd increased its position in shares of Garrett Motion by 18.2% during the fourth quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company's stock worth $29,348,000 after acquiring an additional 500,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Garrett Motion by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock worth $25,886,000 after acquiring an additional 278,107 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Garrett Motion by 6.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company's stock valued at $19,536,000 after purchasing an additional 130,873 shares during the last quarter. Finally, Royce & Associates LP grew its stake in 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 purchasing an additional 422,955 shares in the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now owns 25,434,957 shares of the company's stock, valued at $228,914,613. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total value of $875,326.34. Following the completion of the sale, the insider now owns 10,395,183 shares of the company's stock, valued at $103,328,119.02. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,264,853 shares of company stock worth $30,663,903. 0.83% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Separately, BWS Financial upped their target price on Garrett Motion from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, May 2nd.
Read Our Latest Stock Report on Garrett Motion
Garrett Motion Price Performance
GTX opened at $10.35 on Thursday. The stock has a market capitalization of $2.10 billion, a PE ratio of 8.15 and a beta of -0.05. The firm's fifty day moving average price is $9.53 and its 200 day moving average price is $9.18. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $12.09.
Garrett Motion Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's payout ratio is currently 18.60%.
Garrett Motion Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garrett Motion Inc. (NYSE:GTX - Free Report).
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