Garrett Motion Inc. (NYSE:GTX) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in Garrett Motion Inc. (NYSE:GTX) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,693 shares of the company’s stock after selling 2,226 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Garrett Motion were worth $592,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vestcor Inc acquired a new position in shares of Garrett Motion in the first quarter worth about $61,000. Quarry LP increased its holdings in Garrett Motion by 180.3% in the fourth quarter. Quarry LP now owns 7,755 shares of the company’s stock valued at $70,000 after buying an additional 4,988 shares during the last quarter. Deutsche Bank AG increased its holdings in Garrett Motion by 185.5% in the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company’s stock valued at $74,000 after buying an additional 5,329 shares during the last quarter. Mariner LLC increased its holdings in Garrett Motion by 35.6% in the fourth quarter. Mariner LLC now owns 19,434 shares of the company’s stock valued at $175,000 after buying an additional 5,107 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Garrett Motion by 181.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,949 shares of the company’s stock valued at $189,000 after buying an additional 13,503 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

GTX has been the subject of several research analyst reports. BNP Paribas initiated coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an “outperform” rating for the company. BNP Paribas Exane initiated coverage on Garrett Motion in a report on Wednesday, July 16th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, BWS Financial reissued a “buy” rating and issued a $14.00 price objective on shares of Garrett Motion in a report on Wednesday, June 25th.

Insider Activity at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of the company’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $10.46, for a total transaction of $12,515,661.96. Following the completion of the transaction, the insider directly owned 23,705,198 shares of the company’s stock, valued at approximately $247,956,371.08. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of the company’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 value of $30,900,000.00. Following the transaction, the insider directly owned 8,906,010 shares of the company’s stock, valued at $91,731,903. This trade represents a 25.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,102,224 shares of company stock valued at $54,139,429 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Garrett Motion Trading Up 1.1%

NYSE:GTX opened at $12.70 on Thursday. The firm has a market capitalization of $2.56 billion, a PE ratio of 10.00 and a beta of 0.01. The stock has a 50 day moving average of $11.36 and a 200-day moving average of $10.22. Garrett Motion Inc. has a 52 week low of $7.01 and a 52 week high of $13.32.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.9%. Garrett Motion’s dividend payout ratio is 16.78%.

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.