Garrett Motion Inc. (NYSE:GTX) Major Shareholder Cyrus Capital Partners, L.P. Sells 1,172 Shares

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 1,172 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $11.76, for a total transaction of $13,782.72. Following the completion of the transaction, the insider owned 22,905,867 shares of the company's stock, valued at $269,372,995.92. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large 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, July 17th, Cyrus Capital Partners, L.P. sold 24,033 shares of Garrett Motion stock. The shares were sold at an average price of $11.82, for a total transaction of $284,070.06.
• On Wednesday, July 16th, Cyrus Capital Partners, L.P. sold 51,718 shares of Garrett Motion stock. The shares were sold at an average price of $11.63, for a total transaction of $601,480.34.
• On Thursday, July 10th, Cyrus Capital Partners, L.P. sold 150,896 shares of Garrett Motion stock. The shares were sold at an average price of $11.50, for a total transaction of $1,735,304.00.
• On Monday, July 7th, Cyrus Capital Partners, L.P. sold 300,000 shares of Garrett Motion stock. The stock was sold at an average price of $11.10, for a total transaction of $3,330,000.00.
• On Wednesday, July 2nd, Cyrus Capital Partners, L.P. sold 51,865 shares of Garrett Motion stock. The stock was sold at an average price of $11.00, for a total value of $570,515.00.
• On Friday, June 27th, Cyrus Capital Partners, L.P. sold 1,196,526 shares of Garrett Motion stock. The shares were sold at an average price of $10.46, for a total value of $12,515,661.96.
• On Monday, May 5th, Cyrus Capital Partners, L.P. sold 155,000 shares of Garrett Motion stock. The stock was sold at an average price of $11.25, for a total value of $1,743,750.00.

Garrett Motion Stock Down 0.1%

Garrett Motion stock traded down $0.01 during trading hours on Tuesday, hitting $11.61. The stock had a trading volume of 1,396,643 shares, compared to its average volume of 1,404,881. The stock's 50-day moving average price is $10.85 and its 200-day moving average price is $9.81. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $12.09. The stock has a market capitalization of $2.35 billion, a P/E ratio of 9.14 and a beta of 0.01.

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Monday, June 2nd. Garrett Motion's dividend payout ratio is 18.60%.

Hedge Funds Weigh In On Garrett Motion

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new position in Garrett Motion during the 1st quarter valued at $2,722,000. SG Americas Securities LLC purchased a new position in Garrett Motion in the first quarter worth $381,000. Raymond James Financial Inc. purchased a new stake in Garrett Motion in the fourth quarter valued at about $326,000. Sterling Capital Management LLC increased its stake in Garrett Motion by 41.1% during the 4th quarter. Sterling Capital Management LLC now owns 233,895 shares of the company's stock valued at $2,112,000 after purchasing an additional 68,093 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Garrett Motion by 105.1% in the 4th quarter. First Trust Advisors LP now owns 226,506 shares of the company's stock worth $2,045,000 after acquiring an additional 116,086 shares during the last quarter. Institutional investors own 86.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BNP Paribas Exane initiated coverage on shares of Garrett Motion in a research note on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price target for the company. BNP Paribas started coverage on Garrett Motion in a research report on Wednesday, July 16th. They issued an "outperform" rating for the company. Finally, BWS Financial reaffirmed a "buy" rating and set a $14.00 target price on shares of Garrett Motion in a research report on Wednesday, June 25th.

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.