Garrett Motion (NASDAQ:GTX) Posts Earnings Results, Beats Estimates By $0.06 EPS

Garrett Motion (NASDAQ:GTX) announced its earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06, Briefing.com reports. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The business’s quarterly revenue was up 12.2% on a year-over-year basis.

Garrett Motion Price Performance

NASDAQ:GTX traded up $5.13 during trading hours on Thursday, reaching $25.62. 7,280,452 shares of the company were exchanged, compared to its average volume of 2,371,538. The company has a market capitalization of $4.82 billion, a P/E ratio of 20.17 and a beta of 0.44. Garrett Motion has a 1-year low of $9.57 and a 1-year high of $25.77. The business has a 50 day moving average of $18.96 and a 200 day moving average of $17.85.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Garrett Motion’s dividend payout ratio is currently 21.05%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BWS Financial reiterated a “buy” rating on shares of Garrett Motion in a research note on Thursday. Freedom Capital upgraded Garrett Motion to a “strong-buy” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Insider Buying and Selling

In related news, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the sale, the chief executive officer owned 905,546 shares of the company’s stock, valued at $18,400,694.72. This represents a 13.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the sale, the senior vice president directly owned 160,994 shares in the company, valued at $3,266,568.26. This represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 337,000 shares of company stock valued at $6,839,290 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its position in Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after buying an additional 970 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Garrett Motion by 361.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock worth $49,000 after buying an additional 2,210 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Garrett Motion during the second quarter worth approximately $45,000. C M Bidwell & Associates Ltd. acquired a new stake in Garrett Motion during the fourth quarter worth approximately $86,000. Finally, Jones Financial Companies Lllp acquired a new stake in Garrett Motion during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.