VELA Investment Management LLC bought a new stake in Garrett Motion Inc. (NYSE:GTX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 97,821 shares of the company's stock, valued at approximately $883,000.
Several other hedge funds have also made changes to their positions in GTX. Covestor Ltd purchased a new position in Garrett Motion in the 3rd quarter valued at $28,000. Gladius Capital Management LP purchased a new stake in shares of Garrett Motion in the third quarter valued at about $58,000. Paloma Partners Management Co acquired a new position in shares of Garrett Motion during the third quarter worth about $87,000. Savant Capital LLC purchased a new position in Garrett Motion during the fourth quarter worth about $96,000. Finally, Aigen Investment Management LP acquired a new stake in Garrett Motion in the third quarter valued at about $116,000. Institutional investors and hedge funds own 86.27% of the company's stock.
Analysts Set New Price Targets
Separately, BWS Financial reissued a "buy" rating and set a $12.00 target price on shares of Garrett Motion in a research note on Tuesday, February 25th.
View Our Latest Report on GTX
Insider Transactions at Garrett Motion
In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96. Following the transaction, the insider now owns 10,098,173 shares in the company, valued at $100,577,803.08. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company's stock.
Garrett Motion Stock Down 1.9 %
Shares of Garrett Motion stock traded down $0.19 on Tuesday, hitting $9.46. The company's stock had a trading volume of 1,086,023 shares, compared to its average volume of 907,220. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The company has a market capitalization of $1.94 billion, a P/E ratio of 7.47 and a beta of 1.15. The firm has a fifty day moving average price of $9.36 and a 200-day moving average price of $8.61.
Garrett Motion Announces Dividend
The company also recently declared a -- dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a dividend yield of 2.7%. Garrett Motion's dividend payout ratio is currently 18.90%.
About Garrett Motion
(
Free Report)
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.
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