Cyrus Capital Partners, L.P. Sells 90,542 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Key Points

• Cyrus Capital Partners, L.P., a major shareholder of Garrett Motion Inc., sold 90,542 shares of the company's stock for a total value of $1,181,573.10, reducing their ownership by 0.40%.
• Garrett Motion recently announced a quarterly dividend of $0.06 per share, payable on September 16th, with an annualized yield of 1.9%.
• Garrett Motion's stock has been trading down 0.5%, currently valued at $12.82, amidst recent insider selling activities.

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 90,542 shares of Garrett Motion stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $13.05, for a total value of $1,181,573.10. Following the transaction, the insider directly owned 22,580,758 shares of the company's stock, valued at approximately $294,678,891.90. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 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, August 4th, Cyrus Capital Partners, L.P. sold 200 shares of Garrett Motion stock. The stock was sold at an average price of $13.01, for a total value of $2,602.00.
• On Friday, August 1st, Cyrus Capital Partners, L.P. sold 705 shares of Garrett Motion stock. The shares were sold at an average price of $13.02, for a total value of $9,179.10.
• On Wednesday, July 30th, Cyrus Capital Partners, L.P. sold 32,361 shares of Garrett Motion stock. The stock was sold at an average price of $13.03, for a total value of $421,663.83.
• On Tuesday, July 29th, Cyrus Capital Partners, L.P. sold 50,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.05, for a total value of $652,500.00.
• On Monday, July 28th, Cyrus Capital Partners, L.P. sold 93,334 shares of Garrett Motion stock. The shares were sold at an average price of $13.14, for a total value of $1,226,408.76.
• On Wednesday, July 23rd, Cyrus Capital Partners, L.P. sold 58,829 shares of Garrett Motion stock. The shares were sold at an average price of $11.80, for a total value of $694,182.20.
• On Monday, July 21st, Cyrus Capital Partners, L.P. sold 43 shares of Garrett Motion stock. The shares were sold at an average price of $11.76, for a total value of $505.68.
• On Friday, July 18th, Cyrus Capital Partners, L.P. sold 1,172 shares of Garrett Motion stock. The stock was sold at an average price of $11.76, for a total value of $13,782.72.
• On Thursday, July 17th, Cyrus Capital Partners, L.P. sold 24,033 shares of Garrett Motion stock. The stock was 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 stock was sold at an average price of $11.63, for a total value of $601,480.34.

Garrett Motion Trading Up 1.4%

GTX stock traded up $0.18 during mid-day trading on Friday, reaching $12.81. The company's stock had a trading volume of 1,184,490 shares, compared to its average volume of 1,865,537. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 10.08 and a beta of 0.01. The business's 50 day moving average price is $11.17 and its 200 day moving average price is $10.13. Garrett Motion Inc. has a 12 month low of $7.01 and a 12 month high of $13.32.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Garrett Motion's dividend payout ratio (DPR) is 16.78%.

Institutional Investors Weigh In On Garrett Motion

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new position in Garrett Motion in the second quarter worth $46,000. Caitong International Asset Management Co. Ltd boosted its position in Garrett Motion by 4,655.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company's stock worth $47,000 after purchasing an additional 4,423 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Garrett Motion in the first quarter worth $42,000. Vestcor Inc purchased a new position in Garrett Motion in the first quarter worth $61,000. Finally, Quarry LP boosted its position in Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after purchasing an additional 4,988 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

Analyst Ratings Changes

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

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.