Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 88,061 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34. Following the sale, the insider now directly owns 10,395,183 shares in the company, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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.

Garrett Motion Price Performance

NYSE GTX traded down $0.23 during trading on Thursday, reaching $9.76. 2,728,404 shares of the company’s stock were exchanged, compared to its average volume of 977,962. The business has a 50 day moving average price of $9.33 and a 200-day moving average price of $8.57. The stock has a market capitalization of $2.00 billion, a P/E ratio of 7.69 and a beta of 1.15. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $10.39.

Garrett Motion Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $12.00 price objective on shares of Garrett Motion in a research note on Tuesday.

Institutional Investors Weigh In On Garrett Motion

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

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.