Garrett Motion Inc. (NYSE:GTX) Shares Acquired by First Trust Advisors LP

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

Several other hedge funds also recently added to or reduced their stakes in GTX. Savant Capital LLC purchased a new stake in shares of Garrett Motion in the 4th quarter valued at about $96,000. KLP Kapitalforvaltning AS purchased a new stake in Garrett Motion in the fourth quarter valued at approximately $133,000. Pacific Global Investment Management Co. acquired a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $150,000. Mariner LLC grew its position in shares of Garrett Motion by 35.6% during the fourth quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after acquiring an additional 5,107 shares during the last quarter. Finally, ARS Investment Partners LLC acquired a new position in shares of Garrett Motion in the 4th quarter valued at $181,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Stock Up 2.8 %

Shares of GTX stock opened at $11.16 on Tuesday. The stock's 50-day moving average price is $8.96 and its 200 day moving average price is $8.87. The stock has a market capitalization of $2.28 billion, a PE ratio of 8.79 and a beta of -0.05. Garrett Motion Inc. has a 52-week low of $7.02 and a 52-week high of $11.35.

Garrett Motion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, June 2nd. Garrett Motion's payout ratio is currently 18.60%.

Insider Transactions at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the transaction, the insider now directly owns 10,098,173 shares of the company's stock, valued at approximately $100,577,803.08. The trade was a 3.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05. Following the completion of the sale, the insider now owns 25,834,957 shares of the company's stock, valued at $233,806,360.85. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,109,853 shares of company stock worth $28,920,153 over the last 90 days. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, BWS Financial raised their price objective on shares of Garrett Motion from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday.

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.

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