Garrett Motion (NYSE:GTX) Reaches New 12-Month High - Here's Why

Garrett Motion Inc. (NYSE:GTX - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $10.39 and last traded at $9.73, with a volume of 40625 shares changing hands. The stock had previously closed at $9.88.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Garrett Motion in a research note on Tuesday.

Garrett Motion Stock Performance

The firm has a market capitalization of $2.00 billion, a PE ratio of 7.69 and a beta of 1.15. The business's fifty day simple moving average is $9.33 and its 200-day simple moving average is $8.57.

Garrett Motion Dividend Announcement

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

Insider Buying and Selling 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 that occurred 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 completion of the transaction, the insider now owns 10,395,183 shares in the company, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. New South Capital Management Inc. increased its position in Garrett Motion by 19.0% in the third quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company's stock worth $22,170,000 after purchasing an additional 431,779 shares during the last quarter. Barclays PLC increased its holdings in shares of Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after buying an additional 136,600 shares during the last quarter. Pekin Hardy Strauss Inc. increased its holdings in shares of Garrett Motion by 63.9% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 155,450 shares of the company's stock worth $1,272,000 after buying an additional 60,600 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Garrett Motion by 25.0% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company's stock valued at $10,501,000 after buying an additional 256,366 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Garrett Motion in the 3rd quarter valued at about $616,000. 86.27% of the stock is currently owned by 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.