Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $284,070.06 in Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 24,033 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $11.82, for a total value of $284,070.06. Following the completion of the transaction, the insider owned 22,907,039 shares of the company's stock, valued at $270,761,200.98. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 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 value of $13,782.72.
• 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 value 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 value 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 value 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 value of $570,515.00.
• On Friday, June 27th, Cyrus Capital Partners, L.P. sold 1,196,526 shares of Garrett Motion stock. The shares were 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 shares were sold at an average price of $11.25, for a total value of $1,743,750.00.

Garrett Motion Trading Down 1.6%

NYSE:GTX traded down $0.19 on Friday, hitting $11.60. The company's stock had a trading volume of 1,004,128 shares, compared to its average volume of 1,403,804. The stock has a fifty day moving average of $10.85 and a two-hundred day moving average of $9.81. The firm has a market capitalization of $2.35 billion, a P/E ratio of 9.13 and a beta of 0.01. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $12.09.

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.06 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.07%. Garrett Motion's dividend payout ratio (DPR) is currently 18.60%.

Institutional Investors Weigh In On Garrett Motion

A number of large investors have recently added to or reduced their stakes in GTX. Gates Capital Management Inc. raised its stake in Garrett Motion by 53.1% during the 1st quarter. Gates Capital Management Inc. now owns 6,795,553 shares of the company's stock worth $56,879,000 after buying an additional 2,358,294 shares during the period. New South Capital Management Inc. boosted its stake in shares of Garrett Motion by 65.3% in the 1st quarter. New South Capital Management Inc. now owns 4,164,333 shares of the company's stock worth $34,855,000 after buying an additional 1,645,460 shares during the last quarter. Prevatt Capital Ltd boosted its stake in shares of Garrett Motion by 18.2% in the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company's stock worth $29,348,000 after buying an additional 500,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Garrett Motion by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock worth $25,886,000 after buying an additional 278,107 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Garrett Motion by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company's stock valued at $19,285,000 after purchasing an additional 62,844 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GTX. BWS Financial reiterated a "buy" rating and issued a $14.00 price objective on shares of Garrett Motion in a research report on Wednesday, June 25th. BNP Paribas Exane began coverage on Garrett Motion in a research report on Wednesday. They issued an "outperform" rating and a $14.00 price objective for the company. Finally, BNP Paribas started coverage on Garrett Motion in a research report on Wednesday. They issued an "outperform" rating for the company.

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.