Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $3,330,000.00 in Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 300,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $11.10, for a total transaction of $3,330,000.00. Following the completion of the sale, the insider directly owned 23,133,686 shares in the company, valued at approximately $256,783,914.60. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Thursday, July 10th, Cyrus Capital Partners, L.P. sold 150,896 shares of Garrett Motion stock. The stock was sold at an average price of $11.50, for a total value of $1,735,304.00.
• On Wednesday, July 2nd, Cyrus Capital Partners, L.P. sold 51,865 shares of Garrett Motion stock. The stock was sold at an average price of $11.00, for a total value of $570,515.00.
• On Friday, June 27th, Cyrus Capital Partners, L.P. sold 1,196,526 shares of Garrett Motion stock. The stock was sold at an average price of $10.46, for a total value of $12,515,661.96.
• On Monday, May 5th, Cyrus Capital Partners, L.P. sold 155,000 shares of Garrett Motion stock. The stock was sold at an average price of $11.25, for a total value of $1,743,750.00.
• On Wednesday, April 16th, Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00.
• On Monday, April 14th, Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock. The stock was sold at an average price of $9.05, for a total value of $13,597,091.05.

Garrett Motion Stock Down 1.8%

NYSE:GTX traded down $0.21 during trading hours on Friday, hitting $11.28. 1,325,773 shares of the company's stock traded hands, compared to its average volume of 1,389,897. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.09. The business's fifty day simple moving average is $10.83 and its two-hundred day simple moving average is $9.72. The firm has a market cap of $2.29 billion, a P/E ratio of 8.88 and a beta of 0.01.

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, June 2nd. Garrett Motion's payout ratio is 18.60%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GTX. Jones Financial Companies Lllp bought a new position in shares of Garrett Motion in the 1st quarter worth $42,000. Vestcor Inc purchased a new stake in Garrett Motion during the first quarter valued at about $61,000. Quarry LP lifted its stake in 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 purchasing an additional 4,988 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after purchasing an additional 5,329 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Garrett Motion in the 1st quarter worth about $94,000. 86.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a "buy" rating and set a $14.00 target price on shares of Garrett Motion in a research report on Wednesday, June 25th.

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.