Raymond James Financial Inc. Takes $326,000 Position in Garrett Motion Inc. (NYSE:GTX)

Raymond James Financial Inc. purchased a new stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,095 shares of the company's stock, valued at approximately $326,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royce & Associates LP lifted its position in Garrett Motion by 25.6% in the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock valued at $18,712,000 after purchasing an additional 422,955 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $15,442,000. Loomis Sayles & Co. L P raised its stake in Garrett Motion by 11.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,579,376 shares of the company's stock valued at $14,262,000 after acquiring an additional 159,891 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Garrett Motion by 15.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,483,442 shares of the company's stock worth $13,395,000 after purchasing an additional 199,679 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Garrett Motion by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company's stock valued at $11,157,000 after purchasing an additional 9,681 shares during the period. Institutional investors and hedge funds own 86.27% of the company's stock.

Garrett Motion Price Performance

Shares of Garrett Motion stock traded up $0.01 on Thursday, hitting $12.05. The company had a trading volume of 656,449 shares, compared to its average volume of 1,086,129. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.28. The company has a market cap of $2.44 billion, a PE ratio of 9.48 and a beta of -0.05. The business has a 50-day simple moving average of $9.26 and a 200-day simple moving average of $9.05.

Garrett Motion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) is presently 18.60%.

Insider Activity

In related news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares in the company, valued at $228,914,613. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total value of $875,326.34. Following the sale, the insider now directly owns 10,395,183 shares in the company, valued at $103,328,119.02. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,264,853 shares of company stock worth $30,663,903. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, BWS Financial upped their price objective on shares of Garrett Motion from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, May 2nd.

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.