Garrett Motion Inc. Announces Quarterly Dividend of $0.08 (NYSE:GTX)

Garrett Motion Inc. (NYSE:GTX) announced a quarterly dividend on Thursday, February 19th. Investors of record on Monday, March 2nd will be paid a dividend of 0.08 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd.

Garrett Motion Stock Down 6.4%

GTX traded down $1.32 on Thursday, hitting $19.27. 5,610,023 shares of the company traded hands, compared to its average volume of 2,562,031. Garrett Motion has a 12-month low of $7.01 and a 12-month high of $21.42. The company has a 50 day moving average of $18.34 and a 200-day moving average of $15.82. The stock has a market capitalization of $3.75 billion, a PE ratio of 15.17 and a beta of 0.33.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The firm’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Garrett Motion will post 1.25 EPS for the current year.

Garrett Motion declared that its Board of Directors has approved a share buyback program on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.