Garrett Motion (NASDAQ:GTX) SVP Sells $801,000.00 in Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 30,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total transaction of $801,000.00. Following the transaction, the senior vice president directly owned 133,783 shares of the company’s stock, valued at $3,572,006.10. This trade represents a 18.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, September 2nd, Daniel Deiro sold 20,000 shares of Garrett Motion stock. The shares were sold at an average price of $26.89, for a total value of $537,800.00.

Garrett Motion Trading Up 2.3%

Shares of GTX stock opened at $27.97 on Friday. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.72 and a beta of 0.79. Garrett Motion Inc. has a 12-month low of $12.26 and a 12-month high of $36.25. The stock’s 50-day moving average price is $30.08 and its 200-day moving average price is $26.52.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The business had revenue of $976.00 million during the quarter. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 17.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their price target on Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Stifel Nicolaus lifted their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.60.

Institutional Investors Weigh In On Garrett Motion

Several large investors have recently modified their holdings of the business. Convergence Investment Partners LLC boosted its stake in shares of Garrett Motion by 0.9% during the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after purchasing an additional 423 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Garrett Motion by 22.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after buying an additional 629 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Garrett Motion in the second quarter worth approximately $27,000. Baron Wealth Management LLC lifted its holdings in Garrett Motion by 3.3% during the first quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock worth $496,000 after buying an additional 878 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 970 shares during the period. Institutional investors own 86.27% of the company’s stock.

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.