Special Credit Pa Centerbridge Sells 88,061 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock in a transaction that occurred 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. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Garrett Motion Stock Down 1.0 %

Shares of GTX stock opened at $9.66 on Friday. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 7.61 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. The firm’s 50 day moving average price is $9.35 and its two-hundred day moving average price is $8.59.

Garrett Motion Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a $0.06 dividend. The ex-dividend date was Wednesday, January 15th. This represents a dividend yield of 2.7%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.90%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a research report on Tuesday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Garrett Motion by 11.4% in the fourth quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock valued at $229,000 after purchasing an additional 2,586 shares during the period. Entropy Technologies LP boosted its stake in shares of Garrett Motion by 17.0% in the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock valued at $147,000 after purchasing an additional 2,600 shares during the period. Covestor Ltd purchased a new position in shares of Garrett Motion in the third quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Garrett Motion by 5.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company’s stock valued at $653,000 after purchasing an additional 3,774 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Garrett Motion by 14.3% in the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company’s stock valued at $281,000 after purchasing an additional 3,880 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

About Garrett Motion

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.