Cyrus Capital Partners, L.P. Sells 5,000 Shares of Garrett Motion (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $13.25, for a total value of $66,250.00. Following the transaction, the insider directly owned 21,123,348 shares in the company, valued at $279,884,361. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Tuesday, August 19th, Cyrus Capital Partners, L.P. sold 1,300,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.00, for a total value of $16,900,000.00.
• On Monday, August 4th, Cyrus Capital Partners, L.P. sold 200 shares of Garrett Motion stock. The shares were sold at an average price of $13.01, for a total value of $2,602.00.
• On Friday, August 1st, Cyrus Capital Partners, L.P. sold 705 shares of Garrett Motion stock. The shares were sold at an average price of $13.02, for a total value of $9,179.10.
• On Thursday, July 31st, Cyrus Capital Partners, L.P. sold 90,542 shares of Garrett Motion stock. The shares were sold at an average price of $13.05, for a total value of $1,181,573.10.
• On Wednesday, July 30th, Cyrus Capital Partners, L.P. sold 32,361 shares of Garrett Motion stock. The shares were sold at an average price of $13.03, for a total value of $421,663.83.
• On Tuesday, July 29th, Cyrus Capital Partners, L.P. sold 50,000 shares of Garrett Motion stock. The shares were sold at an average price of $13.05, for a total value of $652,500.00.
• On Monday, July 28th, Cyrus Capital Partners, L.P. sold 93,334 shares of Garrett Motion stock. The shares were sold at an average price of $13.14, for a total value of $1,226,408.76.
• On Wednesday, July 23rd, Cyrus Capital Partners, L.P. sold 58,829 shares of Garrett Motion stock. The shares were sold at an average price of $11.80, for a total value of $694,182.20.
• On Monday, July 21st, Cyrus Capital Partners, L.P. sold 43 shares of Garrett Motion stock. The shares were sold at an average price of $11.76, for a total value of $505.68.
• On Friday, July 18th, Cyrus Capital Partners, L.P. sold 1,172 shares of Garrett Motion stock. The shares were sold at an average price of $11.76, for a total value of $13,782.72.

Garrett Motion Stock Up 1.9%

Shares of Garrett Motion stock opened at $13.34 on Friday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 10.50 and a beta of 0.01. The business has a fifty day simple moving average of $11.75 and a 200-day simple moving average of $10.38. Garrett Motion Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $13.40.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.06 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. Garrett Motion’s dividend payout ratio is 16.78%.

Analyst Upgrades and Downgrades

GTX has been the subject of several research analyst reports. BNP Paribas initiated coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an “outperform” rating for the company. BNP Paribas Exane initiated coverage on Garrett Motion in a report on Wednesday, July 16th. They set an “outperform” rating and a $14.00 target price for the company. Finally, BWS Financial reaffirmed a “buy” rating and set a $14.00 target price on shares of Garrett Motion in a report on Wednesday, June 25th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $14.00.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds have recently modified their holdings of GTX. Gates Capital Management Inc. lifted its stake in Garrett Motion by 53.1% in the 1st quarter. Gates Capital Management Inc. now owns 6,795,553 shares of the company’s stock worth $56,879,000 after acquiring an additional 2,358,294 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Garrett Motion by 2.6% in the 2nd quarter. William Blair Investment Management LLC now owns 5,110,528 shares of the company’s stock worth $53,712,000 after acquiring an additional 128,479 shares in the last quarter. New South Capital Management Inc. lifted its stake in Garrett Motion by 65.3% in the 1st quarter. New South Capital Management Inc. now owns 4,164,333 shares of the company’s stock worth $34,855,000 after acquiring an additional 1,645,460 shares in the last quarter. Prevatt Capital Ltd lifted its stake in Garrett Motion by 18.2% in the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock worth $29,348,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Garrett Motion by 92.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,053,869 shares of the company’s stock worth $32,100,000 after acquiring an additional 1,466,048 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

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.