Insider Selling: Garrett Motion (NASDAQ:GTX) SVP Sells $537,800.00 in Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total value of $537,800.00. Following the completion of the transaction, the senior vice president directly owned 113,783 shares of the company’s stock, valued at $3,059,624.87. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 1st, Daniel Deiro sold 30,000 shares of Garrett Motion stock. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00.

Garrett Motion Trading Up 2.3%

GTX opened at $27.97 on Friday. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25. The stock has a market capitalization of $5.22 billion, a PE ratio of 15.37, a PEG ratio of 0.72 and a beta of 0.79. The firm has a 50-day moving average price of $30.08 and a two-hundred day moving average price of $26.52.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company had revenue of $976.00 million for the quarter. During the same quarter in the previous year, the company posted $0.42 earnings per share. Garrett Motion’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts predict that Garrett Motion Inc. will post 1.91 EPS for the current year.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s payout ratio is 17.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. 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 note on Thursday, May 14th. Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. lifted their price objective on Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Finally, Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GTX. Persistent Asset Partners Ltd acquired a new stake in shares of Garrett Motion during the second quarter worth $27,000. Cullen Frost Bankers Inc. boosted its holdings in Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after buying an additional 1,422 shares during the last quarter. Global Retirement Partners LLC boosted 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 worth $28,000 after buying an additional 970 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Garrett Motion during the 2nd quarter worth about $64,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Garrett Motion by 361.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock valued at $49,000 after acquiring an additional 2,210 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

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.