Special Credit Pa Centerbridge Sells 88,061 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the firm’s stock in a transaction that occurred on 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 directly owns 10,395,183 shares of the company’s stock, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $9.66 on Friday. Garrett Motion Inc. has a 52 week low of $7.13 and a 52 week high of $10.39. The stock has a 50 day moving average price of $9.35 and a two-hundred day moving average price of $8.60. The stock has a market capitalization of $1.98 billion, a PE ratio of 7.61 and a beta of 1.15.

Garrett Motion Announces Dividend

The business also recently announced a — dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a dividend yield of 2.7%. Garrett Motion’s dividend payout ratio is presently 18.90%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Covestor Ltd bought a new position in shares of Garrett Motion in the third quarter valued at approximately $28,000. Gladius Capital Management LP bought a new position in shares of Garrett Motion in the third quarter valued at approximately $58,000. Quarry LP lifted its holdings in shares of Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company’s stock valued at $70,000 after purchasing an additional 4,988 shares in the last quarter. Deutsche Bank AG lifted its holdings 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 purchasing an additional 5,329 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Garrett Motion in the third quarter valued at approximately $87,000. Institutional investors own 86.27% of the company’s stock.

Analyst Ratings Changes

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.

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.