Garrett Motion (NASDAQ:GTX) SVP Sells $355,651.12 in Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Mark Albert Rodrigues sold 10,516 shares of Garrett Motion stock in a transaction on Friday, June 12th. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12. Following the completion of the sale, the senior vice president directly owned 83,178 shares in the company, valued at $2,813,079.96. This represents a 11.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Trading Up 1.4%

GTX stock traded up $0.48 during midday trading on Tuesday, reaching $34.61. The stock had a trading volume of 2,230,197 shares, compared to its average volume of 2,929,822. The company’s fifty day simple moving average is $27.19 and its 200 day simple moving average is $21.38. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.79. Garrett Motion Inc. has a 52-week low of $9.57 and a 52-week high of $35.06.

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

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a report on Friday, May 1st. BWS Financial raised their price objective on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Stifel Nicolaus raised their price objective on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.83.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Garrett Motion during the 4th quarter worth $180,383,000. William Blair Investment Management LLC raised its holdings in Garrett Motion by 51.0% in the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after buying an additional 2,605,296 shares during the period. LSV Asset Management raised its holdings in Garrett Motion by 45.8% in the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after buying an additional 1,958,808 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Garrett Motion by 170.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after buying an additional 3,241,952 shares during the period. Finally, Marshall Wace LLP raised its holdings in Garrett Motion by 85.9% in the 4th quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock valued at $77,968,000 after buying an additional 2,067,264 shares during the period. Hedge funds and other 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.