Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $875,326.34 in Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34. Following the transaction, the insider now directly owns 10,395,183 shares in the company, valued at approximately $103,328,119.02. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96.

Garrett Motion Trading Down 0.2 %

GTX traded down $0.02 during midday trading on Monday, hitting $9.64. 1,352,610 shares of the company traded hands, compared to its average volume of 900,558. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 7.59 and a beta of 1.15. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The business has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $8.61.

Garrett Motion Announces Dividend

The firm also recently declared a -- dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a $0.06 dividend. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, January 15th. Garrett Motion's dividend payout ratio is currently 18.90%.

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Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a "buy" rating and set a $12.00 price objective on shares of Garrett Motion in a report on Tuesday, February 25th.

Hedge Funds Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd purchased a new position in shares of Garrett Motion in the third quarter worth about $28,000. Gladius Capital Management LP purchased a new position in shares of Garrett Motion in the third quarter worth about $58,000. Quarry LP lifted its stake in shares of Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company's stock worth $70,000 after buying an additional 4,988 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Garrett Motion by 185.5% in the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after buying an additional 5,329 shares in the last quarter. Finally, Savant Capital LLC purchased a new position in shares of Garrett Motion in the fourth quarter worth about $96,000. 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.