Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $421,663.83 in Stock

Key Points

• Cyrus Capital Partners, L.P. sold 32,361 shares of Garrett Motion Inc. at an average price of $13.03, totaling $421,663.83, reducing their ownership by 0.14%.
• Garrett Motion declared a quarterly dividend of $0.06 per share, set to be paid on September 16th, which represents an annual yield of 1.84%.
• Wall Street analysts showed confidence in Garrett Motion, with BWS Financial and BNP Paribas recently reiterating a "buy" rating and setting a price target of $14.00.

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 32,361 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $13.03, for a total transaction of $421,663.83. Following the transaction, the insider directly owned 22,671,300 shares of the company's stock, valued at $295,407,039. This represents a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, July 29th, Cyrus Capital Partners, L.P. sold 50,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.05, for a total transaction of $652,500.00.
• On Monday, July 28th, Cyrus Capital Partners, L.P. sold 93,334 shares of Garrett Motion stock. The stock was sold at an average price of $13.14, for a total transaction of $1,226,408.76.
• On Wednesday, July 23rd, Cyrus Capital Partners, L.P. sold 58,829 shares of Garrett Motion stock. The stock was sold at an average price of $11.80, for a total transaction of $694,182.20.
• On Monday, July 21st, Cyrus Capital Partners, L.P. sold 43 shares of Garrett Motion stock. The stock was sold at an average price of $11.76, for a total transaction of $505.68.
• On Friday, July 18th, Cyrus Capital Partners, L.P. sold 1,172 shares of Garrett Motion stock. The stock was sold at an average price of $11.76, for a total transaction of $13,782.72.
• On Thursday, July 17th, Cyrus Capital Partners, L.P. sold 24,033 shares of Garrett Motion stock. The stock was sold at an average price of $11.82, for a total transaction of $284,070.06.
• On Wednesday, July 16th, Cyrus Capital Partners, L.P. sold 51,718 shares of Garrett Motion stock. The stock was sold at an average price of $11.63, for a total transaction of $601,480.34.
• 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 transaction of $1,735,304.00.
• On Monday, July 7th, Cyrus Capital Partners, L.P. sold 300,000 shares of Garrett Motion stock. The stock was sold at an average price of $11.10, for a total transaction of $3,330,000.00.
• 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 transaction of $570,515.00.

Garrett Motion Stock Down 1.2%

GTX stock traded down $0.15 during midday trading on Friday, reaching $12.89. The company's stock had a trading volume of 1,674,974 shares, compared to its average volume of 1,869,201. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $13.32. The stock has a market cap of $2.60 billion, a PE ratio of 10.15 and a beta of 0.01. The business's 50-day simple moving average is $11.03 and its 200-day simple moving average is $10.05.

Garrett Motion Dividend Announcement

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 dividend on an annualized basis and a yield of 1.9%. Garrett Motion's dividend payout ratio (DPR) is presently 16.78%.

Analyst Ratings Changes

GTX has been the subject of several recent analyst reports. BWS Financial reaffirmed a "buy" rating and set a $14.00 price objective on shares of Garrett Motion in a report on Wednesday, June 25th. BNP Paribas initiated coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating for the company. Finally, BNP Paribas Exane initiated coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price objective for the company.

Hedge Funds Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new position in Garrett Motion in the first quarter valued at approximately $2,722,000. SG Americas Securities LLC bought a new position in shares of Garrett Motion during the first quarter worth $381,000. Victory Capital Management Inc. boosted its position in shares of Garrett Motion by 4.4% during the first quarter. Victory Capital Management Inc. now owns 1,290,509 shares of the company's stock worth $10,802,000 after purchasing an additional 54,978 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Garrett Motion during the first quarter worth $12,945,000. Finally, Raymond James Financial Inc. bought a new position in shares of Garrett Motion during the fourth quarter worth $326,000. 86.27% of the stock is owned by institutional investors.

Garrett Motion Company Profile

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.