Insider Selling: Garrett Motion (NYSE:GTX) SVP Sells 13,000 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) SVP Daniel Deiro sold 13,000 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $20.31, for a total value of $264,030.00. Following the transaction, the senior vice president directly owned 180,994 shares of the company’s stock, valued at approximately $3,675,988.14. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 26th, Daniel Deiro sold 20,000 shares of Garrett Motion stock. The stock was sold at an average price of $20.29, for a total value of $405,800.00.

Garrett Motion Stock Performance

Shares of NYSE GTX traded down $0.10 during trading on Friday, hitting $20.36. 3,362,113 shares of the company traded hands, compared to its average volume of 2,592,434. Garrett Motion Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $21.42. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 16.03 and a beta of 0.33. The business’s fifty day moving average is $18.73 and its 200 day moving average is $16.15.

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

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, March 2nd. Garrett Motion’s payout ratio is presently 21.05%.

Garrett Motion declared that its Board of Directors has authorized a share buyback program on Wednesday, December 3rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GTX. Stifel Nicolaus upped their price target on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. assumed coverage on Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price for the company. Finally, BWS Financial upped their target price on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.80.

Institutional Investors Weigh In On Garrett Motion

A number of large investors have recently added to or reduced their stakes in GTX. Jones Financial Companies Lllp bought a new stake in Garrett Motion during the first quarter worth about $42,000. Jane Street Group LLC raised its holdings in shares of Garrett Motion by 641.7% during the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after buying an additional 78,661 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Garrett Motion by 153.5% during the 2nd quarter. AlphaQuest LLC now owns 38,675 shares of the company’s stock valued at $406,000 after buying an additional 23,420 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Garrett Motion by 50.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 258,734 shares of the company’s stock worth $2,719,000 after buying an additional 87,280 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Garrett Motion in the second quarter worth approximately $46,000. Hedge funds and other institutional investors 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.