1,455,875 Shares in Garrett Motion Inc. (NYSE:GTX) Purchased by Frontier Capital Management Co. LLC

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

Several other hedge funds and other institutional investors also recently bought and sold shares of GTX. Eubel Brady & Suttman Asset Management Inc. purchased a new position in Garrett Motion during the 4th quarter worth $15,442,000. Royce & Associates LP grew its position in Garrett Motion by 25.6% during the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock worth $18,712,000 after purchasing an additional 422,955 shares during the last quarter. Marshall Wace LLP purchased a new position in Garrett Motion during the 4th quarter worth $3,565,000. Four Tree Island Advisory LLC purchased a new position in Garrett Motion during the 4th quarter worth $3,060,000. Finally, Dimensional Fund Advisors LP grew its position in Garrett Motion by 10.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock worth $25,886,000 after purchasing an additional 278,107 shares during the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction dated 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 sale, the insider now owns 25,434,957 shares of the company's stock, valued at $228,914,613. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34. Following the completion of the sale, the insider now directly owns 10,395,183 shares in the company, valued at approximately $103,328,119.02. The trade was a 0.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,264,853 shares of company stock valued at $30,663,903 over the last quarter. Corporate insiders own 0.83% of the company's stock.

Garrett Motion Stock Performance

Garrett Motion stock traded up $0.23 during midday trading on Friday, hitting $11.59. 1,924,483 shares of the company's stock were exchanged, compared to its average volume of 1,071,911. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $11.68. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 9.13 and a beta of -0.05. The firm's 50 day simple moving average is $9.10 and its 200 day simple moving average is $8.97.

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's payout ratio is 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.