Garrett Motion Inc. (NYSE:GTX) Stock Holdings Cut by Centerbridge Partners L.P.

Centerbridge Partners L.P. decreased its position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,256,395 shares of the company's stock after selling 2,808,988 shares during the quarter. Garrett Motion makes up about 68.0% of Centerbridge Partners L.P.'s holdings, making the stock its largest position. Centerbridge Partners L.P. owned 16.51% of Garrett Motion worth $318,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Apis Capital Advisors LLC raised its position in Garrett Motion by 9.1% in the fourth quarter. Apis Capital Advisors LLC now owns 240,000 shares of the company's stock valued at $2,167,000 after purchasing an additional 20,000 shares during the period. Comerica Bank lifted its stake in shares of Garrett Motion by 10,164.6% in the fourth quarter. Comerica Bank now owns 173,779 shares of the company's stock worth $1,569,000 after buying an additional 172,086 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Garrett Motion by 18.6% during the 4th quarter. Northern Trust Corp now owns 369,976 shares of the company's stock worth $3,341,000 after purchasing an additional 58,045 shares in the last quarter. Quarry LP lifted its position in shares of Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after purchasing an additional 4,988 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Garrett Motion by 21.2% during the fourth quarter. Stifel Financial Corp now owns 79,485 shares of the company's stock valued at $718,000 after purchasing an additional 13,916 shares during the period. Institutional investors and hedge funds own 86.27% of the company's stock.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the 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 sale, the insider now directly owns 10,395,183 shares of the company's stock, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00. Following the sale, the insider now owns 25,434,957 shares in the company, valued at approximately $228,914,613. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,109,853 shares of company stock worth $28,920,153 over the last three months. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

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

Garrett Motion Trading Up 2.8 %

Shares of GTX opened at $11.16 on Tuesday. The firm has a fifty day moving average price of $8.96 and a 200-day moving average price of $8.87. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $11.35. The firm has a market capitalization of $2.28 billion, a P/E ratio of 8.79 and a beta of -0.05.

Garrett Motion Dividend Announcement

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

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.

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