Schonfeld Strategic Advisors LLC Sells 118,152 Shares of Garrett Motion Inc. (NYSE:GTX)

Schonfeld Strategic Advisors LLC reduced its stake in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 75.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,400 shares of the company's stock after selling 118,152 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Garrett Motion were worth $347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northern Trust Corp increased its position in shares of Garrett Motion by 18.6% during the fourth quarter. Northern Trust Corp now owns 369,976 shares of the company's stock worth $3,341,000 after buying an additional 58,045 shares during the period. Quarry LP boosted its position in Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after acquiring an additional 4,988 shares during the last quarter. Stifel Financial Corp grew its holdings in Garrett Motion by 21.2% during the 4th quarter. Stifel Financial Corp now owns 79,485 shares of the company's stock worth $718,000 after acquiring an additional 13,916 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Garrett Motion by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock worth $25,886,000 after acquiring an additional 278,107 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Garrett Motion by 105.1% in the 4th quarter. First Trust Advisors LP now owns 226,506 shares of the company's stock valued at $2,045,000 after purchasing an additional 116,086 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, BWS Financial raised their target price on Garrett Motion from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd.

Insider Activity

In other news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the insider now directly owns 25,434,957 shares of the company's stock, valued at $228,914,613. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the completion of the transaction, the insider now directly owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. The trade was a 3.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,264,853 shares of company stock worth $30,663,903. Company insiders own 0.83% of the company's stock.

Garrett Motion Price Performance

Shares of NYSE:GTX traded up $0.04 during mid-day trading on Friday, hitting $11.92. The company had a trading volume of 430,237 shares, compared to its average volume of 1,446,648. Garrett Motion Inc. has a one year low of $7.01 and a one year high of $12.09. The firm has a fifty day moving average price of $9.32 and a 200 day moving average price of $9.08. The company has a market capitalization of $2.41 billion, a PE ratio of 9.38 and a beta of -0.05.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion's dividend payout ratio (DPR) is currently 18.60%.

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.