The Manufacturers Life Insurance Company Decreases Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

The Manufacturers Life Insurance Company decreased its stake in Garrett Motion Inc. (NYSE:GTX) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,211 shares of the company’s stock after selling 2,485 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Garrett Motion were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Garrett Motion by 85.2% during the 3rd quarter. Barclays PLC now owns 297,022 shares of the company’s stock worth $2,430,000 after acquiring an additional 136,600 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Garrett Motion by 32.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company’s stock worth $1,755,000 after purchasing an additional 47,126 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Garrett Motion by 20,649.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 63,493 shares of the company’s stock worth $573,000 after purchasing an additional 63,187 shares during the last quarter. ARS Investment Partners LLC purchased a new position in shares of Garrett Motion in the 4th quarter valued at approximately $181,000. Finally, Financial Advocates Investment Management acquired a new position in shares of Garrett Motion in the fourth quarter valued at about $191,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $9.05, for a total value of $13,597,091.05. Following the sale, the insider now owns 25,834,957 shares of the company’s stock, valued at approximately $233,806,360.85. The trade was a 5.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the stock in a transaction 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 transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 3,264,853 shares of company stock worth $30,663,903 over the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

Garrett Motion Stock Up 1.0%

NYSE GTX opened at $12.00 on Friday. The stock has a market capitalization of $2.43 billion, a PE ratio of 9.45 and a beta of -0.05. Garrett Motion Inc. has a 52 week low of $7.02 and a 52 week high of $12.09. The firm has a 50 day moving average of $9.37 and a two-hundred day moving average of $9.11.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, June 2nd. Garrett Motion’s dividend payout ratio is currently 18.60%.

Analyst Ratings Changes

Separately, BWS Financial boosted their price target on shares of Garrett Motion from $12.00 to $14.00 and gave the stock 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.