Wells Fargo & Company MN Purchases 23,947 Shares of Garrett Motion Inc. (NYSE:GTX)

Wells Fargo & Company MN lifted its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 65.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,811 shares of the company's stock after purchasing an additional 23,947 shares during the period. Wells Fargo & Company MN's holdings in Garrett Motion were worth $549,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in Garrett Motion by 85.2% during the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after acquiring an additional 136,600 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Garrett Motion by 32.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock valued at $1,755,000 after purchasing an additional 47,126 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Garrett Motion by 20,649.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 63,493 shares of the company's stock valued at $573,000 after purchasing an additional 63,187 shares in the last quarter. ARS Investment Partners LLC purchased a new position in shares of Garrett Motion during the fourth quarter valued at approximately $181,000. Finally, Financial Advocates Investment Management bought a new stake in Garrett Motion during the fourth quarter worth $191,000. Institutional investors own 86.27% of the company's stock.

Garrett Motion Stock Up 0.3 %

Garrett Motion stock traded up $0.04 during mid-day trading on Wednesday, reaching $11.30. 983,223 shares of the company's stock were exchanged, compared to its average volume of 1,056,264. The firm has a market capitalization of $2.30 billion, a PE ratio of 8.87 and a beta of -0.05. The business's fifty day simple moving average is $8.99 and its 200 day simple moving average is $8.89. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $11.45.

Garrett Motion Dividend Announcement

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 paid a dividend of $0.06 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.12%. Garrett Motion's payout ratio is 18.60%.

Insider Activity at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.41, for a total value of $4,893,200.00. Following the sale, the insider now directly owns 9,795,684 shares of the company's stock, valued at $92,177,386.44. This trade represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $13,597,091.05. Following the completion of the transaction, the insider now directly owns 25,834,957 shares of the company's stock, valued at approximately $233,806,360.85. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,109,853 shares of company stock worth $28,920,153. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.