Garrett Motion (NASDAQ:GTX) CFO Sells $3,512,300.00 in Stock

Garrett Motion Inc. (NASDAQ:GTX) CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the transaction, the chief financial officer owned 261,909 shares in the company, valued at approximately $8,362,754.37. The trade was a 29.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Trading Down 2.5%

Garrett Motion stock opened at $31.98 on Thursday. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $34.34. The business’s 50 day simple moving average is $25.94 and its 200 day simple moving average is $20.88. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.03 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. The company’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts forecast that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s dividend payout ratio is presently 18.71%.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors and hedge funds have recently made changes to their positions in GTX. Cullen Frost Bankers Inc. raised its position in shares of Garrett Motion by 7,110.0% in 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 in the last quarter. Spire Wealth Management raised its position in shares of Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after buying an additional 1,350 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Garrett Motion by 156.7% in 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 in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after buying an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion in the first quarter worth $42,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

GTX has been the topic of several research analyst reports. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised their price target on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Weiss Ratings initiated coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Stifel Nicolaus raised their price target on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, BWS Financial raised their price target on Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Garrett Motion has a consensus rating of “Moderate Buy” and an average price target of $31.83.

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.