Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 1,172 Shares of Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 1,172 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was 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 in the company, valued at approximately $269,372,995.92. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 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 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 value 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 shares were 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 shares were sold at an average price of $11.00, for a total transaction 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 transaction of $12,515,661.96.
• On Monday, May 5th, Cyrus Capital Partners, L.P. sold 155,000 shares of Garrett Motion stock. The shares were sold at an average price of $11.25, for a total transaction of $1,743,750.00.

Garrett Motion Trading Up 1.0%

Shares of NYSE GTX traded up $0.12 during midday trading on Monday, reaching $11.72. The company's stock had a trading volume of 199,263 shares, compared to its average volume of 1,399,047. The company has a 50 day moving average price of $10.85 and a 200 day moving average price of $9.81. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $12.09. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 9.22 and a beta of 0.01.

Garrett Motion Dividend Announcement

The firm 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. The ex-dividend date was Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.05%. Garrett Motion's payout ratio is currently 18.60%.

Analyst Ratings Changes

GTX has been the topic of a number of recent analyst reports. BWS Financial restated a "buy" rating and set a $14.00 price target on shares of Garrett Motion in a research report on Wednesday, June 25th. BNP Paribas Exane initiated coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price target on the stock. Finally, BNP Paribas started coverage on shares of Garrett Motion in a research report on Wednesday. They set an "outperform" rating on the stock.

Institutional Trading of Garrett Motion

A number of hedge funds and other institutional investors have recently made changes to their positions in GTX. Deutsche Bank AG grew its position in Garrett Motion by 14.4% during the first quarter. Deutsche Bank AG now owns 9,383 shares of the company's stock valued at $79,000 after purchasing an additional 1,181 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Garrett Motion by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company's stock worth $653,000 after buying an additional 3,774 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Garrett Motion by 14.3% during the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after buying an additional 3,880 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Garrett Motion by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 329,626 shares of the company's stock valued at $3,464,000 after purchasing an additional 4,374 shares during the period. Finally, Quarry LP boosted its holdings in Garrett Motion by 180.3% in the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after purchasing an additional 4,988 shares during the period. 86.27% of the stock is currently owned by institutional investors.

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.