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

Schonfeld Strategic Advisors LLC decreased its holdings in Garrett Motion Inc. (NYSE:GTX - Free Report) by 75.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP lifted its holdings in Garrett Motion by 180.3% in the 4th 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. Savant Capital LLC acquired a new stake in shares of Garrett Motion in the fourth quarter worth $96,000. KLP Kapitalforvaltning AS bought a new stake in shares of Garrett Motion during the 4th quarter worth $133,000. Pacific Global Investment Management Co. acquired a new position in Garrett Motion in the 4th quarter valued at $150,000. Finally, Mariner LLC raised its holdings in Garrett Motion by 35.6% in the 4th quarter. Mariner LLC now owns 19,434 shares of the company's stock worth $175,000 after acquiring an additional 5,107 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Stock Up 0.8%

GTX traded up $0.09 during midday trading on Wednesday, reaching $12.04. 2,008,833 shares of the company's stock were exchanged, compared to its average volume of 1,086,859. The business has a 50-day simple moving average of $9.21 and a two-hundred day simple moving average of $9.03. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 9.48 and a beta of -0.05. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $12.22.

Garrett Motion Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $9.05, for a total value of $13,597,091.05. Following the transaction, the insider now directly owns 25,834,957 shares of the company's stock, valued at $233,806,360.85. The trade was a 5.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the stock in a transaction on 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 owns 10,098,173 shares in the company, valued at $100,577,803.08. The trade was a 3.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,264,853 shares of company stock worth $30,663,903 over the last three months. Company insiders own 0.83% of the company's stock.

Garrett Motion 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.