Garrett Motion Inc. (NYSE:GTX) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of Garrett Motion Inc. (NYSE:GTX) by 18.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 369,976 shares of the company’s stock after acquiring an additional 58,045 shares during the period. Northern Trust Corp owned about 0.17% of Garrett Motion worth $3,341,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its stake in Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company’s stock valued at $2,430,000 after acquiring an additional 136,600 shares during the period. Eubel Brady & Suttman Asset Management Inc. acquired a new position in Garrett Motion in the fourth quarter valued at approximately $15,442,000. Raymond James Financial Inc. acquired a new position in Garrett Motion in the fourth quarter valued at approximately $326,000. Assenagon Asset Management S.A. boosted its stake in Garrett Motion by 32.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company’s stock valued at $1,755,000 after acquiring an additional 47,126 shares during the period. Finally, VELA Investment Management LLC acquired a new position in Garrett Motion in the fourth quarter valued at approximately $883,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the sale, the insider now owns 10,098,173 shares of the company’s stock, valued at approximately $100,577,803.08. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $9.05, for a total value of $13,597,091.05. Following the sale, the insider now directly owns 25,834,957 shares in the company, valued at approximately $233,806,360.85. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,264,853 shares of company stock valued at $30,663,903. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial lifted their target price on Garrett Motion from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 2nd.

Garrett Motion Trading Down 2.0%

GTX opened at $10.96 on Friday. The business’s 50 day moving average is $9.61 and its 200-day moving average is $9.23. The stock has a market cap of $2.22 billion, a PE ratio of 8.63 and a beta of -0.05. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $12.09.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.19%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.60%.

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.