Garrett Motion (NYSE:GTX) Director Sells 17,000 Shares

Garrett Motion Inc. (NYSE:GTX) Director Julia Steyn sold 17,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total value of $337,620.00. Following the sale, the director directly owned 50,233 shares in the company, valued at $997,627.38. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Garrett Motion Stock Up 0.8%

Shares of Garrett Motion stock traded up $0.16 during trading on Thursday, hitting $20.46. The stock had a trading volume of 2,002,573 shares, compared to its average volume of 2,572,181. Garrett Motion Inc. has a 1 year low of $7.01 and a 1 year high of $21.42. The stock has a 50 day simple moving average of $18.67 and a 200 day simple moving average of $16.09. The company has a market capitalization of $3.89 billion, a PE ratio of 16.11 and a beta of 0.33.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.42 EPS for the quarter, beating 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%. Garrett Motion’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts expect that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

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

Garrett Motion declared that its board has authorized a stock buyback plan on Wednesday, December 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Garrett Motion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GTX. Cullen Frost Bankers Inc. grew its holdings 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 worth $25,000 after acquiring an additional 1,422 shares during the last quarter. Spire Wealth Management increased its stake in shares of Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after acquiring an additional 1,350 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Garrett Motion during the 1st quarter worth $42,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GTX shares. Stifel Nicolaus boosted their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. initiated coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target on the stock. Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, BWS Financial lifted their price objective on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

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.