Garrett Motion (NYSE:GTX) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Garrett Motion Inc. (NYSE:GTX - Get Free Report) saw an uptick in trading volume on Friday . 1,489,268 shares were traded during trading, a decline of 8% from the previous session's volume of 1,625,273 shares.The stock last traded at $10.29 and had previously closed at $10.15.

Wall Street Analyst Weigh In

Separately, BWS Financial raised their target price on shares of Garrett Motion from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, May 2nd.

Garrett Motion Price Performance

The company has a market capitalization of $2.07 billion, a PE ratio of 8.05 and a beta of -0.05. The company's fifty day moving average is $9.94 and its 200-day moving average is $9.40.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.35%. Garrett Motion's dividend payout ratio is presently 18.60%.

Insider Transactions at Garrett Motion

In other news, 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 of the company's stock, valued at approximately $233,806,360.85. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $10.30, for a total value of $30,900,000.00. Following the completion of the sale, the insider now directly owns 8,906,010 shares of the company's stock, valued at $91,731,903. The trade was a 25.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,807,441 shares of company stock valued at $47,590,841. Corporate insiders own 0.83% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gates Capital Management Inc. boosted its holdings in Garrett Motion by 53.1% in the first quarter. Gates Capital Management Inc. now owns 6,795,553 shares of the company's stock worth $56,879,000 after acquiring an additional 2,358,294 shares in the last quarter. New South Capital Management Inc. raised its position in shares of Garrett Motion by 65.3% in 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 purchasing an additional 1,645,460 shares during the last quarter. Prevatt Capital Ltd boosted its stake in Garrett Motion by 18.2% in the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company's stock worth $29,348,000 after purchasing an additional 500,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Garrett Motion by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock worth $25,886,000 after purchasing an additional 278,107 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Garrett Motion by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company's stock worth $19,285,000 after purchasing an additional 62,844 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

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