Jane Street Group LLC Sells 894,213 Shares of Garrett Motion Inc. (NYSE:GTX)

Jane Street Group LLC lowered its position in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 78.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,719 shares of the company's stock after selling 894,213 shares during the quarter. Jane Street Group LLC owned 0.12% of Garrett Motion worth $2,018,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Readystate Asset Management LP purchased a new position in shares of Garrett Motion in the third quarter valued at about $539,000. HighTower Advisors LLC raised its stake in Garrett Motion by 85.4% during the 3rd quarter. HighTower Advisors LLC now owns 27,221 shares of the company's stock valued at $217,000 after purchasing an additional 12,542 shares during the period. Centiva Capital LP purchased a new position in Garrett Motion in the 3rd quarter worth approximately $431,000. Paloma Partners Management Co bought a new position in Garrett Motion in the 3rd quarter worth approximately $87,000. Finally, Maverick Capital Ltd. grew its holdings in Garrett Motion by 27.5% during the 3rd quarter. Maverick Capital Ltd. now owns 215,531 shares of the company's stock valued at $1,763,000 after buying an additional 46,470 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, BWS Financial reissued a "buy" rating and issued a $12.00 target price on shares of Garrett Motion in a report on Friday, October 25th.

Garrett Motion Stock Performance

Shares of GTX traded up $0.06 during midday trading on Wednesday, hitting $9.06. 457,627 shares of the company traded hands, compared to its average volume of 930,936. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 8.88 and a beta of 1.16. The firm has a 50 day moving average of $8.30 and a 200-day moving average of $8.36. Garrett Motion Inc. has a 52 week low of $7.13 and a 52 week high of $10.16.

Garrett Motion (NYSE:GTX - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.06). Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. The firm had revenue of $826.00 million for the quarter, compared to the consensus estimate of $854.00 million. During the same period in the previous year, the company posted $0.23 earnings per share. Sell-side analysts predict that Garrett Motion Inc. will post 1.08 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $0.06 dividend. This represents a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 15th. Garrett Motion's dividend payout ratio is presently 23.53%.

Insider Activity at Garrett Motion

In related news, SVP Thierry Mabru sold 50,000 shares of Garrett Motion stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total value of $373,500.00. Following the completion of the transaction, the senior vice president now owns 140,509 shares in the company, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

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.