UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Garrett Motion Inc. (NYSE:GTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Garrett Motion Inc. (NYSE:GTX) by 10.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,098 shares of the company’s stock after buying an additional 13,363 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.07% of Garrett Motion worth $1,265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GTX. Gates Capital Management Inc. bought a new stake in Garrett Motion during the 4th quarter valued at about $40,068,000. Eubel Brady & Suttman Asset Management Inc. bought a new stake in Garrett Motion during the 4th quarter valued at about $15,442,000. Frontier Capital Management Co. LLC bought a new stake in Garrett Motion during the 4th quarter valued at about $13,147,000. Prevatt Capital Ltd lifted its holdings in Garrett Motion by 18.2% during the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock valued at $29,348,000 after buying an additional 500,000 shares in the last quarter. Finally, Royce & Associates LP lifted 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. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Trading Up 0.4%

NYSE:GTX opened at $10.23 on Tuesday. The company has a market cap of $2.07 billion, a PE ratio of 8.06 and a beta of 0.02. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $12.09. The company’s 50 day moving average is $10.03 and its two-hundred day moving average is $9.45.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, June 2nd. Garrett Motion’s payout ratio is 18.60%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Garrett Motion

In related news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $10.30, for a total value of $30,900,000.00. Following the completion of the transaction, the insider now owns 8,906,010 shares in the company, valued at approximately $91,731,903. The trade was a 25.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,350,000.00. Following the completion of the transaction, the insider now owns 25,434,957 shares of the company’s stock, valued at $228,914,613. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,807,441 shares of company stock valued at $47,590,841 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

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.