Comerica Bank Boosts Holdings in Garrett Motion Inc. (NYSE:GTX)

Comerica Bank increased its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 10,164.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,779 shares of the company’s stock after buying an additional 172,086 shares during the period. Comerica Bank owned about 0.08% of Garrett Motion worth $1,569,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company’s stock worth $70,000 after acquiring an additional 4,988 shares during the period. Savant Capital LLC acquired a new stake in Garrett Motion in the 4th quarter valued at about $96,000. KLP Kapitalforvaltning AS purchased a new position in shares of Garrett Motion in the 4th quarter valued at about $133,000. Pacific Global Investment Management Co. acquired a new position in shares of Garrett Motion during the fourth quarter worth about $150,000. Finally, Mariner LLC increased its stake in shares of Garrett Motion by 35.6% during the fourth quarter. Mariner LLC now owns 19,434 shares of the company’s stock worth $175,000 after buying an additional 5,107 shares during the period. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, BWS Financial boosted their price target 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.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34. Following the transaction, the insider now owns 10,395,183 shares of the company’s stock, valued at approximately $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00. Following the completion of the sale, the insider now directly owns 25,151,724 shares of the company’s stock, valued at $282,956,895. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,264,853 shares of company stock valued at $30,663,903 over the last three months. 0.83% of the stock is owned by corporate insiders.

Garrett Motion Price Performance

Garrett Motion stock opened at $11.59 on Friday. The stock has a market cap of $2.35 billion, a PE ratio of 9.13 and a beta of -0.05. The stock’s fifty day moving average is $9.10 and its two-hundred day moving average is $8.96. Garrett Motion Inc. has a 1-year low of $7.02 and a 1-year high of $11.68.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, June 2nd. Garrett Motion’s payout ratio is 18.60%.

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.