Wells Fargo & Company MN Buys 23,947 Shares of Garrett Motion Inc. (NYSE:GTX)

Wells Fargo & Company MN grew its position in shares of Garrett Motion Inc. (NYSE:GTX) by 65.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,811 shares of the company’s stock after purchasing an additional 23,947 shares during the period. Wells Fargo & Company MN’s holdings in Garrett Motion were worth $549,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GTX. Royce & Associates LP grew its holdings in Garrett Motion by 25.6% during the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company’s stock valued at $18,712,000 after buying an additional 422,955 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Garrett Motion during the 4th quarter valued at approximately $15,442,000. Loomis Sayles & Co. L P grew its holdings in shares of Garrett Motion by 11.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,579,376 shares of the company’s stock valued at $14,262,000 after purchasing an additional 159,891 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in Garrett Motion by 15.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,483,442 shares of the company’s stock worth $13,395,000 after purchasing an additional 199,679 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Garrett Motion by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,235,531 shares of the company’s stock worth $11,157,000 after purchasing an additional 9,681 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

Insider Activity

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the transaction, the insider now owns 10,098,173 shares in the company, valued at $100,577,803.08. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the insider now directly owns 25,434,957 shares in the company, valued at approximately $228,914,613. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,109,853 shares of company stock valued at $28,920,153. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, BWS Financial lifted their price objective on shares of Garrett Motion from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday.

Garrett Motion Trading Up 6.5 %

GTX opened at $10.86 on Friday. The stock has a 50-day moving average of $8.94 and a 200 day moving average of $8.84. Garrett Motion Inc. has a 12 month low of $7.02 and a 12 month high of $11.04. The firm has a market cap of $2.21 billion, a P/E ratio of 8.55 and a beta of 0.67.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, June 2nd. Garrett Motion’s dividend payout ratio (DPR) is 18.90%.

Garrett Motion 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.