Cyrus Capital Partners, L.P. Sells 23,225 Shares of Garrett Motion (NYSE:GTX) Stock

Key Points

• Cyrus Capital Partners, L.P. sold 23,225 shares of Garrett Motion Inc. at an average price of $13.25, totaling $307,731.25, and now holds over 20.6 million shares in the company.
• Garrett Motion announced a quarterly dividend of $0.06 per share, with an annualized yield of 1.8%, payable on September 16th.
• The stock has seen significant insider selling recently, with over 2 million shares sold by Cyrus Capital Partners in multiple transactions during August and September.

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 23,225 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $13.25, for a total value of $307,731.25. Following the sale, the insider directly owned 20,600,123 shares in the company, valued at $272,951,629.75. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Thursday, September 11th, Cyrus Capital Partners, L.P. sold 350,566 shares of Garrett Motion stock. The stock was sold at an average price of $13.28, for a total value of $4,655,516.48.
• On Wednesday, September 10th, Cyrus Capital Partners, L.P. sold 239,612 shares of Garrett Motion stock. The stock was sold at an average price of $13.23, for a total value of $3,170,066.76.
• On Friday, August 22nd, Cyrus Capital Partners, L.P. sold 500,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.28, for a total value of $6,640,000.00.
• On Wednesday, August 20th, Cyrus Capital Partners, L.P. sold 5,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.25, for a total value of $66,250.00.
• On Tuesday, August 19th, Cyrus Capital Partners, L.P. sold 1,300,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.00, for a total value of $16,900,000.00.
• On Monday, August 4th, Cyrus Capital Partners, L.P. sold 200 shares of Garrett Motion stock. The shares were sold at an average price of $13.01, for a total value of $2,602.00.
• On Friday, August 1st, Cyrus Capital Partners, L.P. sold 705 shares of Garrett Motion stock. The shares were sold at an average price of $13.02, for a total value of $9,179.10.
• On Thursday, July 31st, Cyrus Capital Partners, L.P. sold 90,542 shares of Garrett Motion stock. The shares were sold at an average price of $13.05, for a total value of $1,181,573.10.
• On Wednesday, July 30th, Cyrus Capital Partners, L.P. sold 32,361 shares of Garrett Motion stock. The shares were sold at an average price of $13.03, for a total value of $421,663.83.
• On Tuesday, July 29th, Cyrus Capital Partners, L.P. sold 50,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.05, for a total value of $652,500.00.

Garrett Motion Stock Performance

GTX stock traded down $0.11 on Tuesday, reaching $13.02. The company had a trading volume of 3,435,491 shares, compared to its average volume of 2,116,308. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $13.52. The company's fifty day moving average is $12.65 and its 200 day moving average is $10.82. The company has a market cap of $2.62 billion, a P/E ratio of 10.25 and a beta of 0.27.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. Garrett Motion's dividend payout ratio is currently 16.78%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GTX shares. BNP Paribas Exane assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price target on the stock. BNP Paribas started coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating for the company. Zacks Research downgraded Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, BWS Financial reiterated a "buy" rating and issued a $14.00 price target on shares of Garrett Motion in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.00.

Institutional Investors Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gates Capital Management Inc. increased its holdings in shares of Garrett Motion by 53.1% in the first quarter. Gates Capital Management Inc. now owns 6,795,553 shares of the company's stock valued at $56,879,000 after buying an additional 2,358,294 shares in the last quarter. New South Capital Management Inc. grew its holdings in shares of Garrett Motion by 65.3% during the 1st quarter. New South Capital Management Inc. now owns 4,164,333 shares of the company's stock valued at $34,855,000 after acquiring an additional 1,645,460 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Garrett Motion during the 1st quarter valued at $12,945,000. Geode Capital Management LLC grew its holdings in shares of Garrett Motion by 92.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,053,869 shares of the company's stock valued at $32,100,000 after acquiring an additional 1,466,048 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Garrett Motion by 103.4% in the second quarter. Marshall Wace LLP now owns 1,846,068 shares of the company's stock worth $19,402,000 after purchasing an additional 938,312 shares in the last quarter. Institutional investors own 86.27% 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.