Daniel Deiro Sells 30,000 Shares of Garrett Motion (NASDAQ:GTX) Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total transaction of $801,000.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $26.89, for a total transaction of $537,800.00.

Garrett Motion Stock Up 2.3%

Garrett Motion stock opened at $27.97 on Friday. The firm has a fifty day simple moving average of $30.08 and a two-hundred day simple moving average of $26.52. Garrett Motion Inc. has a twelve month low of $12.26 and a twelve month high of $36.25. The company has a market capitalization of $5.22 billion, a PE ratio of 15.37, a P/E/G ratio of 0.70 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $976.00 million for the quarter. During the same period last year, the business posted $0.42 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that Garrett Motion Inc. will post 1.91 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Garrett Motion in the second quarter worth about $461,794,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Garrett Motion during the 4th quarter valued at $180,383,000. California State Teachers Retirement System lifted its position in Garrett Motion by 3,445.7% during the 2nd quarter. California State Teachers Retirement System now owns 7,182,018 shares of the company’s stock valued at $260,205,000 after acquiring an additional 6,979,463 shares during the period. LSV Asset Management boosted its stake in Garrett Motion by 45.8% during the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock worth $108,683,000 after acquiring an additional 1,958,808 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Garrett Motion by 170.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after purchasing an additional 3,241,952 shares during the period. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on GTX shares. Wall Street Zen downgraded shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. raised their price target on shares of Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, May 21st. BWS Financial reaffirmed a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

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.