Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $1,226,408.76 in Stock

Key Points

• Cyrus Capital Partners, L.P. sold a total of 93,334 shares of Garrett Motion Inc. at an average price of $13.14, resulting in a transaction worth over $1.22 million, which decreased their stake by 0.41%.
• Garrett Motion recently declared a quarterly dividend of $0.06 per share, which is set to be paid on September 16th, yielding an annualized dividend of 1.84%.
• Analysts have shown positive sentiment towards Garrett Motion, with BWS Financial and BNP Paribas both issuing a "buy" rating and targeting a price of $14.00 for the stock.

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 93,334 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.14, for a total transaction of $1,226,408.76. Following the transaction, the insider owned 22,753,661 shares in the company, valued at approximately $298,983,105.54. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 30th, Cyrus Capital Partners, L.P. sold 32,361 shares of Garrett Motion stock. The stock was sold at an average price of $13.03, for a total transaction of $421,663.83.
• On Tuesday, July 29th, Cyrus Capital Partners, L.P. sold 50,000 shares of Garrett Motion stock. The stock was sold at an average price of $13.05, for a total transaction of $652,500.00.
• 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $11.00, for a total transaction of $570,515.00.

Garrett Motion Price Performance

GTX traded down $0.15 on Friday, hitting $12.89. 1,674,974 shares of the stock were exchanged, compared to its average volume of 1,869,201. Garrett Motion Inc. has a 12 month low of $7.01 and a 12 month high of $13.32. The business has a 50-day moving average of $11.03 and a two-hundred day moving average of $10.05. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 10.15 and a beta of 0.01.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a yield of 1.9%. Garrett Motion's payout ratio is presently 16.78%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GTX. Raymond James Financial Inc. acquired a new position in Garrett Motion during the fourth quarter worth about $326,000. HighTower Advisors LLC raised its stake in Garrett Motion by 14.3% during the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after acquiring an additional 3,880 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Garrett Motion during the fourth quarter worth about $133,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Garrett Motion by 5.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company's stock worth $653,000 after acquiring an additional 3,774 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Garrett Motion by 10.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 104,918 shares of the company's stock worth $947,000 after acquiring an additional 9,738 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

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.