Frontier Capital Management Co. LLC Makes New $13.15 Million Investment in Garrett Motion Inc. (NYSE:GTX)

Frontier Capital Management Co. LLC bought a new stake in Garrett Motion Inc. (NYSE:GTX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,455,875 shares of the company's stock, valued at approximately $13,147,000. Frontier Capital Management Co. LLC owned 0.68% of Garrett Motion as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC raised its holdings in Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after purchasing an additional 136,600 shares during the period. Eubel Brady & Suttman Asset Management Inc. acquired a new position in Garrett Motion in the fourth quarter valued at about $15,442,000. Raymond James Financial Inc. bought a new stake in shares of Garrett Motion in the fourth quarter worth about $326,000. Assenagon Asset Management S.A. raised its position in shares of Garrett Motion by 32.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after purchasing an additional 47,126 shares during the period. Finally, VELA Investment Management LLC acquired a new position in shares of Garrett Motion in the 4th quarter valued at approximately $883,000. Institutional investors own 86.27% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total value of $1,350,000.00. Following the completion of the sale, the insider now owns 25,434,957 shares in the company, valued at $228,914,613. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.41, for a total value of $4,893,200.00. Following the transaction, the insider now directly owns 9,795,684 shares in the company, valued at approximately $92,177,386.44. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,264,853 shares of company stock valued at $30,663,903 in the last 90 days. Corporate insiders own 0.83% of the company's stock.

Garrett Motion Stock Up 0.8%

Shares of GTX stock traded up $0.09 during trading on Wednesday, reaching $12.04. 1,144,681 shares of the company's stock were exchanged, compared to its average volume of 1,083,628. The stock has a market capitalization of $2.44 billion, a PE ratio of 9.48 and a beta of -0.05. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $12.22. The firm's fifty day moving average price is $9.21 and its 200-day moving average price is $9.03.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given 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 1.99%. Garrett Motion's dividend payout ratio is currently 18.60%.

Analyst Ratings Changes

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

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.