Raymond James Financial Inc. Purchases Shares of 36,095 Garrett Motion Inc. (NYSE:GTX)

Raymond James Financial Inc. acquired a new stake in Garrett Motion Inc. (NYSE:GTX) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 36,095 shares of the company’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Savant Capital LLC bought a new stake in shares of Garrett Motion in the fourth quarter worth about $96,000. KLP Kapitalforvaltning AS bought a new stake in shares of Garrett Motion in the 4th quarter worth approximately $133,000. Pacific Global Investment Management Co. purchased a new position in shares of Garrett Motion during the fourth quarter valued at approximately $150,000. ARS Investment Partners LLC bought a new position in shares of Garrett Motion during the fourth quarter valued at approximately $181,000. Finally, Financial Advocates Investment Management purchased a new stake in Garrett Motion in the fourth quarter worth $191,000. 86.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Garrett Motion Price Performance

Shares of GTX opened at $11.59 on Friday. The company has a 50-day simple moving average of $9.10 and a two-hundred day simple moving average of $8.96. The firm has a market capitalization of $2.35 billion, a PE ratio of 9.13 and a beta of -0.05. Garrett Motion Inc. has a one year low of $7.02 and a one year high of $11.68.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.06 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.24 annualized dividend and a yield of 2.07%. Garrett Motion’s payout ratio is 18.60%.

Insiders Place Their Bets

In related news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm’s 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 completion of the transaction, the insider now owns 10,098,173 shares of the company’s stock, valued at $100,577,803.08. This trade represents a 3.34 % decrease in their position. The transaction 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 155,000 shares of Garrett Motion stock in a transaction on Monday, May 5th. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00. Following the transaction, the insider now owns 25,151,724 shares of the company’s stock, valued at $282,956,895. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,264,853 shares of company stock worth $30,663,903. 0.83% of the stock is owned by corporate insiders.

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.