Caxton Associates LLP Invests $331,000 in Garrett Motion Inc. $GTX

Caxton Associates LLP purchased a new position in shares of Garrett Motion Inc. (NYSE:GTX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,542 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the 1st quarter worth $42,000. Vestcor Inc acquired a new position in shares of Garrett Motion during the 1st quarter worth $61,000. Deutsche Bank AG lifted its position in shares of Garrett Motion by 185.5% in 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Garrett Motion in the first quarter valued at $94,000. Finally, Pacific Global Investment Management Co. lifted its position in shares of Garrett Motion by 41.6% in the first quarter. Pacific Global Investment Management Co. now owns 23,568 shares of the company’s stock valued at $197,000 after acquiring an additional 6,928 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the completion of the sale, the insider directly owned 20,009,945 shares of the company’s stock, valued at $265,732,069.60. The trade was a 1.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the sale, the insider directly owned 4,740,569 shares of the company’s stock, valued at $58,166,781.63. This represents a 65.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,520,627 shares of company stock worth $165,408,993 in the last 90 days. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GTX has been the topic of several recent research reports. BNP Paribas Exane initiated coverage on Garrett Motion in a research report on Wednesday, July 16th. They issued an “outperform” rating and a $14.00 price objective on the stock. BWS Financial restated a “buy” rating and issued a $14.00 price objective on shares of Garrett Motion in a research report on Wednesday, June 25th. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, BNP Paribas initiated coverage on Garrett Motion in a research report on Wednesday, July 16th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Garrett Motion currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Garrett Motion Stock Down 2.0%

GTX stock opened at $13.09 on Friday. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $13.52. The stock’s fifty day simple moving average is $12.57 and its 200-day simple moving average is $10.77. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 10.31 and a beta of 0.27.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. Garrett Motion’s dividend payout ratio (DPR) is 16.78%.

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.