Garrett Motion (NYSE:GTX) Shares Gap Down - Time to Sell?

Garrett Motion Inc. (NYSE:GTX - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $11.90, but opened at $11.20. Garrett Motion shares last traded at $10.85, with a volume of 626,910 shares.

Analyst Ratings Changes

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

Garrett Motion Stock Performance

The company has a 50 day moving average price of $9.50 and a two-hundred day moving average price of $9.18. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 8.46 and a beta of -0.05.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's payout ratio is 18.60%.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $11.25, for a total transaction of $1,743,750.00. Following the completion of the sale, the insider now owns 25,151,724 shares in the company, valued at $282,956,895. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the company's stock in a transaction on Thursday, February 27th. The shares were 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 owns 10,098,173 shares in the company, valued at $100,577,803.08. This represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,264,853 shares of company stock valued at $30,663,903 in the last three months. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Barclays PLC raised its stake in Garrett Motion by 85.2% during the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock valued at $2,430,000 after acquiring an additional 136,600 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new position in shares of Garrett Motion in the 4th quarter worth $15,442,000. Raymond James Financial Inc. acquired a new position in shares of Garrett Motion in the 4th quarter worth $326,000. Assenagon Asset Management S.A. grew its holdings in shares of Garrett Motion by 32.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock valued at $1,755,000 after buying an additional 47,126 shares in the last quarter. Finally, VELA Investment Management LLC purchased a new position in shares of Garrett Motion during the fourth quarter valued at $883,000. Institutional investors and hedge funds own 86.27% of the company's stock.

About Garrett Motion

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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