Garrett Motion (NASDAQ:GTX) SVP Sells $2,310,000.00 in Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total value of $2,310,000.00. Following the transaction, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. The trade was a 32.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Trading Up 2.4%

NASDAQ GTX opened at $32.34 on Thursday. The business’s 50 day moving average is $24.51 and its two-hundred day moving average is $20.32. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.99 and a beta of 0.79. Garrett Motion Inc. has a 12-month low of $9.57 and a 12-month high of $34.34.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts forecast that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Garrett Motion’s payout ratio is 18.71%.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors and hedge funds have recently bought and sold shares of GTX. Fuller & Thaler Asset Management Inc. purchased a new stake in Garrett Motion in the 4th quarter valued at approximately $180,383,000. LSV Asset Management purchased a new stake in Garrett Motion in the 3rd quarter valued at approximately $58,247,000. Arrowstreet Capital Limited Partnership lifted its stake in Garrett Motion by 170.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after buying an additional 3,241,952 shares in the last quarter. Merewether Investment Management LP purchased a new stake in Garrett Motion in the 3rd quarter valued at approximately $40,590,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Garrett Motion in the 3rd quarter valued at approximately $36,539,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

GTX has been the topic of several research analyst reports. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. BWS Financial boosted their price target on Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price target on shares of Garrett Motion in a research note on Friday, May 1st. Weiss Ratings initiated coverage on Garrett Motion in a research note on Wednesday, April 29th. They set a “buy (b)” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

Garrett Motion Company Profile

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.