First Trust Advisors LP Grows Stock Position in Garrett Motion Inc. (NYSE:GTX)

First Trust Advisors LP grew its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 105.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,506 shares of the company's stock after buying an additional 116,086 shares during the period. First Trust Advisors LP owned 0.11% of Garrett Motion worth $2,045,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GTX. Barclays PLC boosted its holdings in shares of Garrett Motion by 85.2% during the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock valued at $2,430,000 after buying an additional 136,600 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Garrett Motion by 32.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock valued at $1,755,000 after buying an additional 47,126 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Garrett Motion by 20,649.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 63,493 shares of the company's stock valued at $573,000 after buying an additional 63,187 shares in the last quarter. ARS Investment Partners LLC bought a new stake in shares of Garrett Motion during the 4th quarter valued at $181,000. Finally, Financial Advocates Investment Management bought a new stake in shares of Garrett Motion during the 4th quarter valued at $191,000. Institutional investors own 86.27% of the company's stock.

Insider Buying and Selling

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $11.25, for a total value of $1,743,750.00. Following the completion of the transaction, the insider now owns 25,151,724 shares of the company's stock, valued at approximately $282,956,895. The trade was a 0.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total value of $875,326.34. Following the completion of the transaction, the insider now directly owns 10,395,183 shares of the company's stock, valued at approximately $103,328,119.02. This trade represents a 0.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,264,853 shares of company stock worth $30,663,903 in the last quarter. Corporate insiders own 0.83% of the company's stock.

Garrett Motion Price Performance

Garrett Motion stock traded up $0.23 during mid-day trading on Friday, reaching $11.59. The stock had a trading volume of 1,924,483 shares, compared to its average volume of 1,071,911. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 9.13 and a beta of -0.05. The company has a 50-day moving average price of $9.10 and a two-hundred day moving average price of $8.97. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $11.68.

Garrett Motion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's payout ratio is 18.60%.

Wall Street Analyst Weigh In

Separately, BWS Financial boosted their target price on shares of Garrett Motion from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, May 2nd.

Garrett Motion 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.