Garrett Motion Inc. (NYSE:GTX) Major Shareholder Cyrus Capital Partners, L.P. Sells 1,196,526 Shares

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $10.46, for a total value of $12,515,661.96. Following the completion of the transaction, the insider directly owned 23,705,198 shares of the company's stock, valued at $247,956,371.08. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• 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 transaction of $1,743,750.00.
• On Wednesday, April 16th, Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock. The shares were sold at an average price of $9.00, for a total transaction of $1,350,000.00.
• On Monday, April 14th, Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock. The stock was sold at an average price of $9.05, for a total value of $13,597,091.05.

Garrett Motion Price Performance

Shares of GTX stock traded up $0.19 during trading hours on Wednesday, hitting $10.91. The stock had a trading volume of 316,206 shares, compared to its average volume of 1,345,422. The firm has a market capitalization of $2.21 billion, a PE ratio of 8.56 and a beta of 0.02. The stock's 50 day moving average is $10.57 and its 200 day moving average is $9.61. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $12.09.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.06 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.20%. Garrett Motion's dividend payout ratio (DPR) is 18.60%.

Analysts Set New Price Targets

Separately, BWS Financial reissued a "buy" rating and issued a $14.00 target price on shares of Garrett Motion in a research report on Wednesday, June 25th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion during the first quarter worth approximately $42,000. Vestcor Inc purchased a new stake in shares of Garrett Motion in the first quarter valued at approximately $61,000. Quarry LP grew its holdings in Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after acquiring an additional 4,988 shares during the period. Deutsche Bank AG increased its holdings in shares of Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after purchasing an additional 5,329 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Garrett Motion during the 1st quarter valued at approximately $94,000. 86.27% of the stock is 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.