Barclays PLC Raises Position in Garrett Motion Inc. (NYSE:GTX)

Barclays PLC grew its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 37.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 408,960 shares of the company's stock after purchasing an additional 111,938 shares during the quarter. Barclays PLC owned about 0.19% of Garrett Motion worth $3,693,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Sterling Capital Management LLC raised its stake in shares of Garrett Motion by 41.1% during the 4th quarter. Sterling Capital Management LLC now owns 233,895 shares of the company's stock valued at $2,112,000 after purchasing an additional 68,093 shares during the period. Raymond James Financial Inc. purchased a new position in Garrett Motion during the 4th quarter valued at about $326,000. Aristides Capital LLC increased its position in shares of Garrett Motion by 57.3% during the fourth quarter. Aristides Capital LLC now owns 41,960 shares of the company's stock valued at $379,000 after buying an additional 15,290 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Garrett Motion by 14.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 49,325 shares of the company's stock worth $445,000 after buying an additional 6,141 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Garrett Motion by 65.0% in the fourth quarter. Wells Fargo & Company MN now owns 60,811 shares of the company's stock valued at $549,000 after acquiring an additional 23,947 shares during the period. Hedge funds and other institutional investors own 86.27% of the company's stock.

Wall Street Analysts Forecast Growth

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

Garrett Motion Stock Up 6.5 %

Shares of GTX stock traded up $0.66 on Friday, reaching $10.86. The company's stock had a trading volume of 2,810,789 shares, compared to its average volume of 1,041,262. The company has a market capitalization of $2.21 billion, a P/E ratio of 8.55 and a beta of -0.05. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $11.04. The stock's 50 day simple moving average is $8.94 and its 200-day simple moving average is $8.85.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.06 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.21%. Garrett Motion's payout ratio is currently 18.60%.

Insider Activity

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

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.