Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $1,735,304.00 in Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 150,896 shares of Garrett Motion stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $11.50, for a total value of $1,735,304.00. Following the completion of the sale, the insider directly owned 22,982,790 shares in the company, valued at $264,302,085. This represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% 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 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 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 shares were sold at an average price of $11.25, for a total value 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 value of $1,350,000.00.
• On Monday, April 14th, Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock. The shares were sold at an average price of $9.05, for a total value of $13,597,091.05.

Garrett Motion Trading Up 1.0%

GTX stock traded up $0.11 during mid-day trading on Monday, hitting $11.39. 1,531,868 shares of the company were exchanged, compared to its average volume of 1,390,465. The business has a 50 day simple moving average of $10.84 and a 200-day simple moving average of $9.74. The stock has a market capitalization of $2.31 billion, a PE ratio of 8.97 and a beta of 0.01. Garrett Motion Inc. has a 1-year low of $7.02 and a 1-year high of $12.09.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.11%. Garrett Motion's dividend payout ratio (DPR) is presently 18.60%.

Institutional Investors Weigh In On Garrett Motion

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

Analysts Set New Price Targets

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

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.