Garrett Motion Inc. (NYSE:GTX) Stock Holdings Lowered by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of Garrett Motion Inc. (NYSE:GTX - Free Report) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 806,277 shares of the company's stock after selling 250,174 shares during the period. Millennium Management LLC owned about 0.38% of Garrett Motion worth $7,281,000 as of its most recent SEC filing.

• Garrett Motion Inc. Skids on Results: Is it Time to Buy the Dip?

A number of other large investors have also recently added to or reduced their stakes in GTX. Gates Capital Management Inc. acquired a new position in shares of Garrett Motion in the fourth quarter worth about $40,068,000. Dimensional Fund Advisors LP boosted its stake in Garrett Motion by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock worth $25,886,000 after purchasing an additional 278,107 shares during the period. Gamco Investors INC. ET AL grew its position in Garrett Motion by 6.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company's stock worth $19,536,000 after purchasing an additional 130,873 shares in the last quarter. Royce & Associates LP grew its position in Garrett Motion by 25.6% during the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock worth $18,712,000 after purchasing an additional 422,955 shares in the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. acquired a new stake in Garrett Motion during the 4th quarter valued at $15,442,000. 86.27% of the stock is currently owned by institutional investors.

Insider Activity

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 500,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $9.45, for a total value of $4,725,000.00. Following the completion of the sale, the insider now owns 9,949,894 shares of the company's stock, valued at $94,026,498.30. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the company's stock in a transaction dated 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. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176,792 shares of company stock worth $29,788,577 in the last three months. 0.83% of the stock is owned by insiders.

Garrett Motion Price Performance

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Shares of GTX opened at $10.96 on Tuesday. Garrett Motion Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $12.09. The business's 50-day moving average is $9.65 and its 200-day moving average is $9.28. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 8.63 and a beta of -0.05.

Garrett Motion Dividend Announcement

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

Analyst Ratings Changes

• Can Garrett Motion Turbocharge A Short Squeeze?

Separately, BWS Financial raised their target price on Garrett Motion from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd.

Check Out Our Latest Analysis on GTX

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.

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Want to see what other hedge funds are holding GTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garrett Motion Inc. (NYSE:GTX - Free Report).

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