Prevatt Capital Ltd increased its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,250,000 shares of the company's stock after buying an additional 500,000 shares during the period. Garrett Motion comprises approximately 8.5% of Prevatt Capital Ltd's investment portfolio, making the stock its 5th biggest holding. Prevatt Capital Ltd owned about 1.52% of Garrett Motion worth $29,348,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of GTX. Quantinno Capital Management LP purchased a new position in Garrett Motion during the 4th quarter worth $361,000. Gates Capital Management Inc. purchased a new stake in shares of Garrett Motion during the fourth quarter worth about $40,068,000. Fairfax Financial Holdings Ltd. Can increased its holdings in shares of Garrett Motion by 6.5% during the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 304,360 shares of the company's stock valued at $2,745,000 after acquiring an additional 18,600 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Garrett Motion in the 4th quarter valued at approximately $13,147,000. Finally, Deutsche Bank AG raised its position 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 during the last quarter. Hedge funds and other institutional investors own 86.27% of the company's stock.
Insider Transactions at Garrett Motion
In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total value of $1,350,000.00. Following the sale, the insider now directly owns 25,434,957 shares of the company's stock, valued at approximately $228,914,613. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96. Following the sale, the insider now directly owns 10,098,173 shares in the company, valued at $100,577,803.08. This represents a 3.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,264,853 shares of company stock worth $30,663,903 over the last three months. 0.83% of the stock is currently owned by insiders.
Garrett Motion Stock Performance
GTX stock traded up $0.04 during midday trading on Tuesday, reaching $11.99. The stock had a trading volume of 323,433 shares, compared to its average volume of 1,447,797. The firm has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $9.16. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $12.09. The stock has a market cap of $2.43 billion, a PE ratio of 9.44 and a beta of -0.05.
Garrett Motion Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, June 2nd. Garrett Motion's payout ratio is 18.60%.
Analysts Set New Price Targets
Separately, BWS Financial upped their price target on shares of Garrett Motion from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, May 2nd.
Check Out Our Latest Research Report on Garrett Motion
About Garrett Motion
(
Free Report)
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.
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