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 the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total value of $875,326.34. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Garrett Motion Stock Down 2.3 %

NYSE GTX traded down $0.23 during trading hours on Thursday, hitting $9.76. The company’s stock had a trading volume of 2,728,404 shares, compared to its average volume of 977,962. The stock has a fifty day moving average of $9.33 and a 200 day moving average of $8.57. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.39. The firm has a market capitalization of $2.00 billion, a P/E ratio of 7.69 and a beta of 1.15.

Garrett Motion Announces Dividend

The business also recently declared a — dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a $0.06 dividend. 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%.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently made changes to their positions in GTX. Covestor Ltd bought a new stake in shares of Garrett Motion in the 3rd quarter valued at $28,000. Gladius Capital Management LP acquired a new position in Garrett Motion in the third quarter valued at about $58,000. Quarry LP increased its holdings 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 acquiring an additional 4,988 shares in the last quarter. Deutsche Bank AG raised its position in shares of Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company’s stock worth $74,000 after purchasing an additional 5,329 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Garrett Motion in the third quarter worth $87,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.