Lonestar Capital Management LLC Sells 210,000 Shares of Garrett Motion Inc. (NYSE:GTX)

Lonestar Capital Management LLC cut its stake in Garrett Motion Inc. (NYSE:GTX - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,090,000 shares of the company's stock after selling 210,000 shares during the period. Garrett Motion comprises approximately 3.6% of Lonestar Capital Management LLC's portfolio, making the stock its 3rd largest position. Lonestar Capital Management LLC owned approximately 0.51% of Garrett Motion worth $9,843,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Quarry LP raised its position in Garrett Motion by 180.3% in 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. Savant Capital LLC purchased a new stake in shares of Garrett Motion in the fourth quarter valued at about $96,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Garrett Motion during the fourth quarter worth about $133,000. Pacific Global Investment Management Co. purchased a new position in shares of Garrett Motion during the fourth quarter worth about $150,000. Finally, Mariner LLC increased its position in Garrett Motion by 35.6% in the 4th quarter. Mariner LLC now owns 19,434 shares of the company's stock valued at $175,000 after acquiring an additional 5,107 shares during the period. Institutional investors and hedge funds own 86.27% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial lifted their target price on Garrett Motion from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday.

Garrett Motion Stock Performance

GTX traded up $0.66 during trading on Friday, hitting $10.86. The stock had a trading volume of 2,810,789 shares, compared to its average volume of 1,040,940. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $11.04. The firm has a market capitalization of $2.21 billion, a P/E ratio of 8.55 and a beta of 0.67. The company's 50-day moving average price is $8.94 and its 200 day moving average price is $8.84.

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 issued a dividend of $0.06 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.21%. Garrett Motion's dividend payout ratio is currently 18.90%.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the firm's stock in a transaction on 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 sale, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the company'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 transaction, the insider now directly owns 25,834,957 shares in the company, valued at approximately $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. Insiders sold a total of 3,109,853 shares of company stock worth $28,920,153 over the last 90 days. Company insiders own 0.60% of the company's stock.

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.