Garrett Motion (NASDAQ:GTX) CFO Sean Deason Sells 110,000 Shares

Garrett Motion Inc. (NASDAQ:GTX) CFO Sean Deason sold 110,000 shares of Garrett Motion stock in a transaction on Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Stock Performance

NASDAQ GTX traded up $0.29 on Monday, reaching $32.25. 2,388,626 shares of the stock traded hands, compared to its average volume of 3,057,428. The company has a fifty day moving average price of $25.35 and a 200-day moving average price of $20.65. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.00 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 issued its earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $985.00 million during 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 firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. acquired a new position in Garrett Motion during the 4th quarter valued at about $180,383,000. William Blair Investment Management LLC increased its position in Garrett Motion by 51.0% during the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after buying an additional 2,605,296 shares in the last quarter. LSV Asset Management increased its position in Garrett Motion by 45.8% during the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after buying an additional 1,958,808 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Garrett Motion by 170.9% during 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. Finally, Marshall Wace LLP increased its position in Garrett Motion by 85.9% during the 4th quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock valued at $77,968,000 after buying an additional 2,067,264 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a research report on Friday, May 1st. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research report on Thursday, May 21st. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus boosted their price target on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. 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 report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion currently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

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.