VELA Investment Management LLC Takes $883,000 Position in Garrett Motion Inc. (NYSE:GTX)

VELA Investment Management LLC purchased a new stake in shares of Garrett Motion Inc. (NYSE:GTX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 97,821 shares of the company’s stock, valued at approximately $883,000.

Several other hedge funds have also modified their holdings of GTX. Eubel Brady & Suttman Asset Management Inc. bought a new stake in shares of Garrett Motion during the fourth quarter valued at approximately $15,442,000. Public Employees Retirement System of Ohio bought a new stake in shares of Garrett Motion during the third quarter valued at approximately $5,928,000. New South Capital Management Inc. grew its stake 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 valued at $22,170,000 after purchasing an additional 431,779 shares during the last quarter. Four Tree Island Advisory LLC bought a new stake in shares of Garrett Motion during the fourth quarter valued at approximately $3,060,000. Finally, Seizert Capital Partners LLC lifted its holdings in Garrett Motion by 76.6% in the third quarter. Seizert Capital Partners LLC now owns 659,132 shares of the company’s stock valued at $5,392,000 after buying an additional 285,918 shares during the period. 86.27% of the stock is owned by institutional investors.

Garrett Motion Price Performance

Shares of NYSE GTX opened at $9.76 on Friday. The company’s 50 day simple moving average is $9.34 and its 200 day simple moving average is $8.58. Garrett Motion Inc. has a fifty-two week low of $7.13 and a fifty-two week 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 Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a $0.06 dividend. The ex-dividend date was Wednesday, January 15th. This represents a yield of 2.7%. Garrett Motion’s dividend payout ratio is currently 18.90%.

Wall Street Analyst Weigh In

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

Insider Activity at Garrett Motion

In related news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the stock in a transaction that occurred 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 represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

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.