Garrett Motion (NYSE:GTX) Major Shareholder Sells $4,655,516.48 in Stock

Key Points

• Cyrus Capital Partners, L.P. sold 350,566 shares of Garrett Motion stock for a total of $4,655,516.48, resulting in a 1.72% decrease in their ownership.
• Garrett Motion announced a quarterly dividend of $0.06 per share, with payment scheduled for September 16th, reflecting a 1.8% dividend yield.
• Several analysts have upgraded Garrett Motion's stock rating, with BNP Paribas setting an "outperform" rating and a target price of $14.00.

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the transaction, the insider owned 20,009,945 shares in the company, valued at $265,732,069.60. This represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Wednesday, September 10th, Cyrus Capital Partners, L.P. sold 239,612 shares of Garrett Motion stock. The shares were sold at an average price of $13.23, for a total transaction of $3,170,066.76.
• On Tuesday, September 9th, Cyrus Capital Partners, L.P. sold 23,225 shares of Garrett Motion stock. The shares were sold at an average price of $13.25, for a total transaction of $307,731.25.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $9,179.10.
• On Thursday, July 31st, Cyrus Capital Partners, L.P. sold 90,542 shares of Garrett Motion stock. The stock was sold at an average price of $13.05, for a total transaction of $1,181,573.10.
• On Wednesday, July 30th, Cyrus Capital Partners, L.P. sold 32,361 shares of Garrett Motion stock. The stock was sold at an average price of $13.03, for a total transaction of $421,663.83.
• On Tuesday, July 29th, Cyrus Capital Partners, L.P. sold 50,000 shares of Garrett Motion stock. The stock was sold at an average price of $13.05, for a total transaction of $652,500.00.

Garrett Motion Price Performance

Shares of NYSE:GTX traded down $0.11 during trading on Tuesday, hitting $13.02. The company's stock had a trading volume of 3,435,491 shares, compared to its average volume of 2,116,308. The company has a 50-day moving average of $12.65 and a 200-day moving average of $10.82. Garrett Motion Inc. has a 12 month low of $7.01 and a 12 month high of $13.52. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 10.25 and a beta of 0.27.

Garrett Motion Announces Dividend

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

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming grew its holdings in Garrett Motion by 184.6% during the 2nd quarter. State of Wyoming now owns 101,836 shares of the company's stock valued at $1,070,000 after buying an additional 66,049 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Garrett Motion during the 2nd quarter valued at approximately $45,000. Oxford Asset Management LLP grew its holdings in Garrett Motion by 98.9% during the 2nd quarter. Oxford Asset Management LLP now owns 24,261 shares of the company's stock valued at $255,000 after buying an additional 12,066 shares in the last quarter. Garden State Investment Advisory Services LLC grew its holdings in Garrett Motion by 16.4% during the 2nd quarter. Garden State Investment Advisory Services LLC now owns 13,667 shares of the company's stock valued at $144,000 after buying an additional 1,922 shares in the last quarter. Finally, Engineers Gate Manager LP grew its holdings in Garrett Motion by 653.6% during the 2nd quarter. Engineers Gate Manager LP now owns 517,128 shares of the company's stock valued at $5,435,000 after buying an additional 448,506 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GTX. BNP Paribas initiated coverage on shares of Garrett Motion in a research note on Wednesday, July 16th. They issued an "outperform" rating on the stock. BWS Financial reissued a "buy" rating and issued a $14.00 target price on shares of Garrett Motion in a report on Wednesday, June 25th. BNP Paribas Exane initiated coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating and a $14.00 target price for the company. Finally, Zacks Research lowered shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Garrett Motion currently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

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.