Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 24,033 Shares of Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 24,033 shares of Garrett Motion stock in a transaction dated Thursday, July 17th. The stock was 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 in the company, valued at $270,761,200.98. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 Friday, July 18th, Cyrus Capital Partners, L.P. sold 1,172 shares of Garrett Motion stock. The shares were sold at an average price of $11.76, for a total transaction of $13,782.72.
• 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 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 shares were 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 transaction 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 transaction 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 Stock Performance

Shares of GTX stock traded down $0.01 during mid-day trading on Tuesday, hitting $11.61. The company's stock had a trading volume of 1,396,643 shares, compared to its average volume of 1,404,881. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.09. The company's fifty day simple moving average is $10.85 and its 200-day simple moving average is $9.81. The company has a market cap of $2.35 billion, a PE ratio of 9.14 and a beta of 0.01.

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 issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.07%. Garrett Motion's dividend payout ratio is currently 18.60%.

Wall Street Analyst Weigh In

GTX has been the topic of several recent analyst reports. BNP Paribas began coverage on shares of Garrett Motion in a research note on Wednesday, July 16th. They set an "outperform" rating on the stock. BWS Financial reissued a "buy" rating and issued a $14.00 target price on shares of Garrett Motion in a research note on Wednesday, June 25th. Finally, BNP Paribas Exane assumed coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 target price on the stock.

Institutional Investors Weigh In On Garrett Motion

Large investors have recently made changes to their positions in the business. 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 position in shares of Garrett Motion in the 1st quarter worth about $61,000. Quarry LP increased its position in shares of Garrett Motion by 180.3% during the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after purchasing an additional 4,988 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Garrett Motion by 185.5% during the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after buying an additional 5,329 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Garrett Motion in the 1st quarter worth approximately $94,000. 86.27% of the stock is owned by hedge funds and other 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.