Garrett Motion (NYSE:GTX) CEO Olivier Rabiller Sells 143,000 Shares

Garrett Motion Inc. (NYSE:GTX) CEO Olivier Rabiller sold 143,000 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $20.32, for a total transaction of $2,905,760.00. Following the completion of the sale, the chief executive officer directly owned 1,192,546 shares in the company, valued at $24,232,534.72. This trade represents a 10.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Olivier Rabiller also recently made the following trade(s):

• On Friday, February 27th, Olivier Rabiller sold 144,000 shares of Garrett Motion stock. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00.

Garrett Motion Stock Performance

GTX stock traded down $0.10 on Friday, reaching $20.36. The company had a trading volume of 3,362,113 shares, compared to its average volume of 2,592,434. The company has a market cap of $3.87 billion, a P/E ratio of 16.03 and a beta of 0.33. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $21.42. The company’s fifty day moving average is $18.73 and its 200 day moving average is $16.15.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that Garrett Motion Inc. will post 1.25 earnings per share for the current year.

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

Garrett Motion Announces Dividend

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

Institutional Trading of Garrett Motion

Several large investors have recently modified their holdings of GTX. Cullen Frost Bankers Inc. grew its stake in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after purchasing an additional 1,422 shares in the last quarter. Spire Wealth Management grew its stake in Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after buying an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in Garrett Motion during the 1st quarter worth approximately $42,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTX has been the topic of several recent analyst reports. JPMorgan Chase & Co. started coverage on Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price on the stock. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Stifel Nicolaus increased their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, BWS Financial lifted their price target on shares of Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Garrett Motion currently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

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.