Garrett Motion (NYSE:GTX) Sees Strong Trading Volume – Should You Buy?

Garrett Motion Inc. (NYSE:GTX) shares saw unusually-high trading volume on Friday . Approximately 1,489,268 shares were traded during trading, a decline of 8% from the previous session’s volume of 1,625,273 shares.The stock last traded at $10.29 and had previously closed at $10.15.

Wall Street Analysts Forecast Growth

Separately, BWS Financial increased 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, May 2nd.

Garrett Motion Stock Performance

The stock has a market capitalization of $2.06 billion, a P/E ratio of 8.02 and a beta of 0.02. The company’s fifty day simple moving average is $9.98 and its two-hundred day simple moving average is $9.43.

Garrett Motion Announces Dividend

The firm 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 dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 2.36%. Garrett Motion’s dividend payout ratio is presently 18.60%.

Insider Transactions at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $9.00, for a total value of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares of the company’s stock, valued at $228,914,613. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $10.30, for a total transaction of $30,900,000.00. Following the completion of the sale, the insider now owns 8,906,010 shares in the company, valued at $91,731,903. This represents a 25.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,807,441 shares of company stock valued at $47,590,841. 0.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Garrett Motion

A number of hedge funds have recently modified their holdings of the business. Deutsche Bank AG raised its stake in Garrett Motion by 14.4% during the first quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock worth $79,000 after buying an additional 1,181 shares during the last quarter. Arizona State Retirement System raised its stake in Garrett Motion by 11.4% during the fourth quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock worth $229,000 after buying an additional 2,586 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Garrett Motion by 5.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company’s stock valued at $653,000 after purchasing an additional 3,774 shares during the period. HighTower Advisors LLC raised its holdings in shares of Garrett Motion by 14.3% during the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company’s stock valued at $281,000 after purchasing an additional 3,880 shares during the period. Finally, Quarry LP raised its holdings in shares of Garrett Motion by 180.3% during 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 during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.