Cyrus Capital Partners, L.P. Sells 155,000 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00. Following the completion of the transaction, the insider now owns 25,151,724 shares in the company, valued at approximately $282,956,895. This represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Wednesday, April 16th, Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock. The shares were sold at an average price of $9.00, for a total transaction of $1,350,000.00.
• On Monday, April 14th, Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05.

Garrett Motion Stock Performance

NYSE:GTX opened at $11.36 on Friday. The company has a market cap of $2.30 billion, a PE ratio of 8.94 and a beta of -0.05. Garrett Motion Inc. has a 52-week low of $7.02 and a 52-week high of $11.57. The stock has a 50-day simple moving average of $9.06 and a 200 day simple moving average of $8.93.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Monday, June 2nd. Garrett Motion’s dividend payout ratio (DPR) is currently 18.60%.

Institutional Trading of Garrett Motion

Several institutional investors and hedge funds have recently bought and sold shares of GTX. Gates Capital Management Inc. acquired a new position in shares of Garrett Motion during the 4th quarter worth approximately $40,068,000. New South Capital Management Inc. lifted its position in shares of Garrett Motion by 65.3% during the 1st quarter. New South Capital Management Inc. now owns 4,164,333 shares of the company’s stock valued at $34,855,000 after acquiring an additional 1,645,460 shares during the period. Prevatt Capital Ltd lifted its position in 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 boosted its position in shares of Garrett Motion by 10.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company’s stock worth $25,886,000 after acquiring an additional 278,107 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Garrett Motion by 0.9% in the 1st quarter. GW&K Investment Management LLC now owns 2,210,458 shares of the company’s stock valued at $18,502,000 after purchasing an additional 19,412 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial increased their price target on Garrett Motion from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, May 2nd.

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.