Garrett Motion (NASDAQ:GTX) SVP Mark Albert Rodrigues Sells 10,516 Shares

Garrett Motion Inc. (NASDAQ:GTX) SVP Mark Albert Rodrigues sold 10,516 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12. Following the completion of the sale, the senior vice president owned 83,178 shares in the company, valued at approximately $2,813,079.96. This trade represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Trading Up 1.4%

GTX traded up $0.48 on Tuesday, hitting $34.61. The company had a trading volume of 2,230,197 shares, compared to its average volume of 2,929,822. The firm has a market cap of $6.48 billion, a P/E ratio of 20.24, a PEG ratio of 1.07 and a beta of 0.79. Garrett Motion Inc. has a 1 year low of $9.57 and a 1 year high of $35.06. The company’s fifty day moving average price is $27.19 and its 200 day moving average price is $21.38.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, June 1st. Garrett Motion’s payout ratio is 18.71%.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new position in Garrett Motion in the 1st quarter valued at about $224,000. Janus Henderson Group PLC grew its position in shares of Garrett Motion by 22.2% during the first quarter. Janus Henderson Group PLC now owns 78,600 shares of the company’s stock worth $1,429,000 after buying an additional 14,300 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Garrett Motion by 50.2% during the first quarter. California State Teachers Retirement System now owns 202,555 shares of the company’s stock worth $3,680,000 after buying an additional 67,740 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Garrett Motion by 2.5% during the first quarter. The Manufacturers Life Insurance Company now owns 88,693 shares of the company’s stock worth $1,612,000 after buying an additional 2,198 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Garrett Motion by 25.7% during the first quarter. Quantinno Capital Management LP now owns 16,703 shares of the company’s stock worth $303,000 after buying an additional 3,415 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. 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 report on Thursday, May 14th. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.83.

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.