Victory Capital Management Inc. Purchases 54,978 Shares of Garrett Motion Inc. (NYSE:GTX)

Victory Capital Management Inc. lifted its position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,290,509 shares of the company's stock after buying an additional 54,978 shares during the period. Victory Capital Management Inc. owned about 0.63% of Garrett Motion worth $10,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GTX. Quarry LP boosted its position in shares of Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after buying an additional 4,988 shares during the period. Deutsche Bank AG boosted its position in shares of Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after buying an additional 5,329 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Garrett Motion during the fourth quarter worth about $133,000. Mariner LLC boosted its position in shares of Garrett Motion by 35.6% during the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after buying an additional 5,107 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Garrett Motion by 181.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,949 shares of the company's stock worth $189,000 after buying an additional 13,503 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BNP Paribas assumed coverage on Garrett Motion in a research report on Wednesday, July 16th. They set an "outperform" rating for the company. BWS Financial reiterated a "buy" rating and set a $14.00 target price on shares of Garrett Motion in a report on Wednesday, June 25th. Finally, BNP Paribas Exane began coverage on Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 target price on the stock.

Garrett Motion Stock Performance

GTX traded up $0.15 on Monday, hitting $13.09. 2,861,697 shares of the company were exchanged, compared to its average volume of 1,869,307. Garrett Motion Inc. has a 12 month low of $7.01 and a 12 month high of $13.32. The company has a market cap of $2.65 billion, a PE ratio of 10.31 and a beta of 0.01. The stock's fifty day moving average is $10.88 and its 200-day moving average is $9.95.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a yield of 1.83%. Garrett Motion's dividend payout ratio is 16.78%.

Insider Activity at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 58,829 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $11.80, for a total transaction of $694,182.20. Following the transaction, the insider owned 22,846,995 shares in the company, valued at approximately $269,594,541. This trade represents a 0.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 8,906,010 shares in the company, valued at approximately $91,731,903. This trade represents a 25.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,990,082 shares of company stock worth $52,389,252 in the last 90 days. Corporate insiders own 0.83% of the company's stock.

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.