Cyrus Capital Partners, L.P. Sells 1,196,526 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of the firm’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $10.46, for a total value of $12,515,661.96. Following the sale, the insider directly owned 23,705,198 shares of the company’s stock, valued at $247,956,371.08. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 2nd, Cyrus Capital Partners, L.P. sold 51,865 shares of Garrett Motion stock. The stock was sold at an average price of $11.00, for a total value of $570,515.00.
• On Monday, May 5th, Cyrus Capital Partners, L.P. sold 155,000 shares of Garrett Motion stock. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00.
• 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 Up 0.0%

GTX stock opened at $11.00 on Friday. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $12.09. The company has a market cap of $2.23 billion, a P/E ratio of 8.66 and a beta of 0.02. The business has a fifty day moving average of $10.64 and a 200-day moving average of $9.63.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.18%. Garrett Motion’s payout ratio is presently 18.60%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and issued a $14.00 price target on shares of Garrett Motion in a report on Wednesday, June 25th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GTX. Jones Financial Companies Lllp acquired a new position in Garrett Motion in the first quarter valued at approximately $42,000. Vestcor Inc bought a new stake in shares of Garrett Motion during the 1st quarter valued at $61,000. Quarry LP lifted its stake in shares of Garrett Motion by 180.3% in the 4th quarter. Quarry LP now owns 7,755 shares of the company’s stock valued at $70,000 after purchasing an additional 4,988 shares during the period. Deutsche Bank AG boosted its position in shares of Garrett Motion by 185.5% in the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company’s stock worth $74,000 after purchasing an additional 5,329 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Garrett Motion during the first quarter worth $94,000. 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.