Garrett Motion Inc. (NYSE:GTX) Major Shareholder Special Credit Pa Centerbridge Sells 88,061 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total value of $875,326.34. Following the completion of the sale, the insider now owns 10,395,183 shares of the company’s stock, valued at $103,328,119.02. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Garrett Motion Stock Down 2.3 %

NYSE GTX opened at $9.76 on Friday. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.39. The stock has a market cap of $2.00 billion, a P/E ratio of 7.69 and a beta of 1.15. The company’s 50-day simple moving average is $9.34 and its 200 day simple moving average is $8.58.

Garrett Motion Dividend Announcement

The business also recently announced a — dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $0.06 dividend. The ex-dividend date was Wednesday, January 15th. This represents a dividend yield of 2.7%. Garrett Motion’s payout ratio is presently 18.90%.

Hedge Funds Weigh In On Garrett Motion

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System grew its position in Garrett Motion by 11.4% in the fourth quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock valued at $229,000 after acquiring an additional 2,586 shares during the period. Entropy Technologies LP boosted its stake in shares of Garrett Motion by 17.0% in the 3rd quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock valued at $147,000 after purchasing an additional 2,600 shares in the last quarter. Covestor Ltd bought a new stake in shares of Garrett Motion in the 3rd quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Garrett Motion by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company’s stock worth $653,000 after purchasing an additional 3,774 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Garrett Motion by 14.3% during the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company’s stock valued at $281,000 after purchasing an additional 3,880 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and issued a $12.00 target price on shares of Garrett Motion in a research report on Tuesday.

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.