Garrett Motion Inc. (NYSE:GTX) Shares Sold by Lonestar Capital Management LLC

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

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of Garrett Motion by 180.3% in the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after buying an additional 4,988 shares during the period. Savant Capital LLC bought a new stake in shares of Garrett Motion in the fourth quarter valued at about $96,000. KLP Kapitalforvaltning AS purchased a new stake in Garrett Motion in the fourth quarter worth about $133,000. Pacific Global Investment Management Co. bought a new position in Garrett Motion during the 4th quarter worth about $150,000. Finally, Mariner LLC increased its position in Garrett Motion by 35.6% during the 4th quarter. Mariner LLC now owns 19,434 shares of the company's stock valued at $175,000 after purchasing an additional 5,107 shares during the period. 86.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96. Following the completion of the sale, the insider now directly owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction 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 dated Monday, April 14th. The stock was sold at an average price of $9.05, for a total value of $13,597,091.05. Following the completion of the sale, the insider now directly owns 25,834,957 shares of the company's stock, valued at approximately $233,806,360.85. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,109,853 shares of company stock valued at $28,920,153. 0.60% of the stock is currently owned by insiders.

Garrett Motion Trading Up 6.5 %

Shares of GTX traded up $0.66 during trading hours on Friday, hitting $10.86. The company had a trading volume of 2,810,789 shares, compared to its average volume of 1,039,907. The company has a market capitalization of $2.21 billion, a PE ratio of 8.55 and a beta of 0.67. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $11.04. The company's fifty day moving average price is $8.92 and its two-hundred day moving average price is $8.82.

Garrett Motion Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.21%. Garrett Motion's dividend payout ratio is presently 18.90%.

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.