Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 150,896 Shares of Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 150,896 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $11.50, for a total transaction of $1,735,304.00. Following the completion of the sale, the insider directly owned 22,982,790 shares of the company's stock, valued at approximately $264,302,085. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's stock 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 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.
• 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 shares were sold at an average price of $9.05, for a total transaction of $13,597,091.05.

Garrett Motion Stock Performance

GTX traded down $0.21 during midday trading on Friday, hitting $11.28. The company had a trading volume of 1,325,773 shares, compared to its average volume of 1,389,897. The company has a market capitalization of $2.29 billion, a PE ratio of 8.88 and a beta of 0.01. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $12.09. The firm's 50-day simple moving average is $10.83 and its 200-day simple moving average is $9.72.

Garrett Motion Dividend Announcement

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 $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, June 2nd. Garrett Motion's payout ratio is presently 18.60%.

Institutional Investors Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new stake in Garrett Motion in the 1st quarter valued at about $42,000. Vestcor Inc acquired a new stake in shares of Garrett Motion during the 1st quarter worth approximately $61,000. Quarry LP grew its position in shares of Garrett Motion by 180.3% during the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after buying an additional 4,988 shares during the period. Deutsche Bank AG grew its position in shares of Garrett Motion by 185.5% during the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after buying an additional 5,329 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Garrett Motion during the 1st quarter worth approximately $94,000. Institutional investors and hedge funds own 86.27% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a "buy" rating and issued a $14.00 price objective on shares of Garrett Motion in a research report 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.