Garrett Motion Inc. (NYSE:GTX) Major Shareholder Special Credit Pa Centerbridge Sells 349,351 Shares

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96. Following the sale, the insider now directly owns 10,098,173 shares of the company’s stock, valued at $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The stock was sold at an average price of $9.94, for a total value of $875,326.34.

Garrett Motion Trading Down 0.2 %

Shares of NYSE:GTX opened at $9.64 on Tuesday. The stock has a market capitalization of $1.98 billion, a PE ratio of 7.59 and a beta of 1.15. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.39. The firm has a fifty day moving average price of $9.36 and a 200 day moving average price of $8.61.

Garrett Motion Dividend Announcement

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

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and issued a $12.00 target price on shares of Garrett Motion in a research note on Tuesday, February 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Covestor Ltd bought a new stake in Garrett Motion during the third quarter worth approximately $28,000. Gladius Capital Management LP acquired a new stake in shares of Garrett Motion in the third quarter worth $58,000. Quarry LP boosted its holdings in shares of Garrett Motion by 180.3% during the 4th quarter. Quarry LP now owns 7,755 shares of the company’s stock worth $70,000 after buying an additional 4,988 shares during the period. Deutsche Bank AG grew its stake in Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company’s stock valued at $74,000 after buying an additional 5,329 shares during the last quarter. Finally, Savant Capital LLC bought a new position in Garrett Motion in the 4th quarter worth $96,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.