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 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 owns 10,395,183 shares in the company, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Garrett Motion Price Performance

NYSE GTX opened at $9.66 on Friday. Garrett Motion Inc. has a 12 month low of $7.13 and a 12 month high of $10.39. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 7.61 and a beta of 1.15. The company’s fifty day moving average price is $9.35 and its two-hundred day moving average price is $8.59.

Garrett Motion Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued 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 18.90%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Garrett Motion

A number of institutional investors and hedge funds have recently modified their holdings of the business. Gates Capital Management Inc. acquired a new stake in shares of Garrett Motion during the fourth quarter worth $40,068,000. Prevatt Capital Ltd raised its holdings in shares of Garrett Motion by 18.2% during the fourth quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock worth $29,348,000 after purchasing an additional 500,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Garrett Motion by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company’s stock worth $25,886,000 after purchasing an additional 278,107 shares during the period. New South Capital Management Inc. raised its holdings in shares of Garrett Motion by 19.0% during the third quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock worth $22,170,000 after purchasing an additional 431,779 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Garrett Motion by 6.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company’s stock worth $19,536,000 after purchasing an additional 130,873 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

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.