Frontier Capital Management Co. LLC Invests $13.15 Million in Garrett Motion Inc. (NYSE:GTX)

Frontier Capital Management Co. LLC bought a new stake in Garrett Motion Inc. (NYSE:GTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,455,875 shares of the company’s stock, valued at approximately $13,147,000. Frontier Capital Management Co. LLC owned about 0.68% of Garrett Motion as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in 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 last quarter. Gamco Investors INC. ET AL boosted its position in 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 valued at $19,536,000 after purchasing an additional 130,873 shares during the last quarter. Royce & Associates LP grew its stake in Garrett Motion by 25.6% in the fourth quarter. Royce & Associates LP now owns 2,072,173 shares of the company’s stock valued at $18,712,000 after purchasing an additional 422,955 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new position in shares of Garrett Motion during the 4th quarter worth approximately $15,442,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of Garrett Motion by 11.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,579,376 shares of the company’s stock worth $14,262,000 after purchasing an additional 159,891 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total value of $875,326.34. Following the completion of the sale, the insider now owns 10,395,183 shares of the company’s stock, valued at $103,328,119.02. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05. Following the transaction, the insider now owns 25,834,957 shares in the company, valued at approximately $233,806,360.85. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,264,853 shares of company stock worth $30,663,903 over the last three months. Insiders own 0.83% of the company’s stock.

Garrett Motion Price Performance

GTX stock opened at $11.36 on Friday. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $11.57. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 8.94 and a beta of -0.05. The company has a fifty day moving average price of $9.06 and a two-hundred day moving average price of $8.93.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.06 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.11%. Garrett Motion’s dividend payout ratio is currently 18.60%.

Analysts Set New Price Targets

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

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.