Garrett Motion (NASDAQ:GTX) SVP Daniel Deiro Sells 20,000 Shares of Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $26.89, for a total transaction of $537,800.00. Following the completion of the transaction, the senior vice president owned 113,783 shares of the company’s stock, valued at approximately $3,059,624.87. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Deiro also recently made the following trade(s):

• On Tuesday, September 1st, Daniel Deiro sold 30,000 shares of Garrett Motion stock. The shares were sold at an average price of $26.70, for a total transaction of $801,000.00.

Garrett Motion Price Performance

NASDAQ GTX opened at $27.33 on Friday. The business’s fifty day moving average price is $30.22 and its 200-day moving average price is $26.51. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.69 and a beta of 0.79. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The firm had revenue of $976.00 million for the quarter. During the same quarter last year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Garrett Motion Inc. will post 1.91 EPS for the current year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 17.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wesbanco Bank Inc. increased its holdings in shares of Garrett Motion by 75.0% in the fourth quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock worth $1,831,000 after purchasing an additional 45,000 shares during the last quarter. Castleark Management LLC bought a new position in Garrett Motion during the second quarter valued at approximately $17,009,000. Smead Capital Management Inc. bought a new position in Garrett Motion during the fourth quarter valued at approximately $4,257,000. Carmel Capital Management L.L.C. purchased a new position in Garrett Motion during the 1st quarter valued at approximately $5,719,000. Finally, Norges Bank purchased a new position in Garrett Motion during the 4th quarter valued at approximately $29,237,000. Institutional investors own 86.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GTX shares. Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Stifel Nicolaus lifted their target price on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings restated a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.60.

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.