Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $875,326.34 in Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34. Following the completion of the sale, the insider now directly owns 10,395,183 shares in the company, valued at approximately $103,328,119.02. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Garrett Motion Trading Down 1.0 %

Shares of GTX opened at $9.66 on Friday. The stock has a market capitalization of $1.98 billion, a P/E ratio of 7.61 and a beta of 1.15. The firm’s fifty day simple moving average is $9.35 and its two-hundred day simple moving average is $8.60. Garrett Motion Inc. has a 12 month low of $7.13 and a 12 month high of $10.39.

Garrett Motion Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Trading of Garrett Motion

Institutional investors have recently bought and sold shares of the company. Covestor Ltd bought a new stake in Garrett Motion during the third quarter valued at $28,000. Gladius Capital Management LP bought a new stake in Garrett Motion during the third quarter valued at $58,000. Quarry LP boosted its position in Garrett Motion by 180.3% during the fourth quarter. Quarry LP now owns 7,755 shares of the company’s stock valued at $70,000 after acquiring an additional 4,988 shares during the last quarter. Deutsche Bank AG boosted its position in Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company’s stock valued at $74,000 after acquiring an additional 5,329 shares during the last quarter. Finally, Savant Capital LLC bought a new position in shares of Garrett Motion during the 4th quarter worth about $96,000. Institutional investors own 86.27% of the company’s stock.

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.