Garrett Motion Inc. $GTX Shares Bought by Invesco Ltd.

Invesco Ltd. boosted its position in shares of Garrett Motion Inc. (NYSE:GTX) by 138.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 162,991 shares of the company’s stock after acquiring an additional 94,501 shares during the quarter. Invesco Ltd. owned about 0.08% of Garrett Motion worth $1,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GTX. Gates Capital Management Inc. acquired a new stake in Garrett Motion during the 4th quarter worth about $40,068,000. New South Capital Management Inc. raised its stake in shares of Garrett Motion by 65.3% during the 1st quarter. New South Capital Management Inc. now owns 4,164,333 shares of the company’s stock valued at $34,855,000 after buying an additional 1,645,460 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Garrett Motion during the 1st quarter valued at about $12,945,000. Frontier Capital Management Co. LLC purchased a new position in shares of Garrett Motion during the 4th quarter valued at about $13,147,000. Finally, Prevatt Capital Ltd raised its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Activity

In other Garrett Motion news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the completion of the sale, the insider directly owned 4,740,569 shares in the company, valued at approximately $58,166,781.63. The trade was a 65.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $13.00, for a total value of $16,900,000.00. Following the sale, the insider owned 21,128,348 shares of the company’s stock, valued at approximately $274,668,524. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,907,224 shares of company stock valued at $157,275,679. 0.83% of the stock is owned by company insiders.

Garrett Motion Stock Down 0.5%

Shares of Garrett Motion stock opened at $12.99 on Tuesday. Garrett Motion Inc. has a twelve month low of $7.01 and a twelve month high of $13.52. The business has a 50-day moving average price of $12.11 and a 200 day moving average price of $10.56. The firm has a market cap of $2.62 billion, a PE ratio of 10.23 and a beta of 0.01.

Garrett Motion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 2nd. Garrett Motion’s payout ratio is currently 16.78%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BNP Paribas assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They set an “outperform” rating for the company. BWS Financial reiterated a “buy” rating and set a $14.00 price objective on shares of Garrett Motion in a research note on Wednesday, June 25th. Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Finally, BNP Paribas Exane assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They set an “outperform” rating and a $14.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.