Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 90,542 Shares of 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 the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $13.05, for a total transaction of $1,181,573.10. Following the sale, the insider owned 22,580,758 shares of the company's stock, valued at approximately $294,678,891.90. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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, 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 stock was 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 stock was sold at an average price of $11.80, for a total transaction of $694,182.20.
• On Monday, July 21st, Cyrus Capital Partners, L.P. sold 43 shares of Garrett Motion stock. The stock was 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 shares were 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 shares were sold at an average price of $11.82, for a total transaction 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.

Garrett Motion Trading Up 0.0%

Garrett Motion stock traded up $0.01 during trading on Thursday, hitting $12.58. 525,527 shares of the company were exchanged, compared to its average volume of 1,863,778. The company has a market capitalization of $2.53 billion, a P/E ratio of 9.90 and a beta of 0.01. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $13.32. The business's 50 day moving average is $11.13 and its 200 day moving average is $10.11.

Garrett Motion Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Garrett Motion

Institutional investors have recently bought and sold shares of the stock. Gates Capital Management Inc. bought a new position in shares of Garrett Motion during the 4th quarter valued at $40,068,000. New South Capital Management Inc. grew its position in shares of Garrett Motion by 65.3% in the first quarter. New South Capital Management Inc. now owns 4,164,333 shares of the company's stock valued at $34,855,000 after purchasing an additional 1,645,460 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Garrett Motion during the 1st quarter valued at about $12,945,000. Frontier Capital Management Co. LLC acquired a new position in Garrett Motion during the fourth quarter worth $13,147,000. Finally, Eubel Brady & Suttman Asset Management Inc. boosted its position in shares of Garrett Motion by 37.1% during the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,925,770 shares of the company's stock worth $30,750,000 after acquiring an additional 791,177 shares in the last quarter. 86.27% of the stock is currently owned by hedge funds and other 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.