Daniel Deiro Sells 20,000 Shares of Garrett Motion (NASDAQ:GTX) Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total value of $537,800.00. Following the sale, the senior vice president directly owned 113,783 shares in the company, valued at $3,059,624.87. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $801,000.00.

Garrett Motion Price Performance

Garrett Motion stock opened at $27.97 on Friday. The business has a 50 day simple moving average of $30.08 and a 200 day simple moving average of $26.52. The company has a market capitalization of $5.22 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.70 and a beta of 0.79. Garrett Motion Inc. has a one year low of $12.26 and a one year high of $36.25.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share 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 quarter last year, the company earned $0.42 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Garrett Motion Inc. will post 1.91 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GTX. Persistent Asset Partners Ltd bought a new stake in shares of Garrett Motion during the second quarter worth $27,000. Cullen Frost Bankers Inc. lifted its position 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 valued at $25,000 after purchasing an additional 1,422 shares during the period. Global Retirement Partners LLC boosted its stake 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 purchasing an additional 970 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Garrett Motion during the 2nd quarter worth approximately $64,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Garrett Motion by 361.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock worth $49,000 after buying an additional 2,210 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

GTX has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective 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. Wall Street Zen downgraded Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. BWS Financial reissued a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a report on Thursday, July 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.60.

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.