Mark Albert Rodrigues Sells 6,140 Shares of Garrett Motion (NASDAQ:GTX) Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Mark Albert Rodrigues sold 6,140 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total transaction of $204,462.00. Following the sale, the senior vice president directly owned 77,038 shares in the company, valued at approximately $2,565,365.40. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Albert Rodrigues also recently made the following trade(s):

• On Friday, June 12th, Mark Albert Rodrigues sold 10,516 shares of Garrett Motion stock. The stock was sold at an average price of $33.82, for a total transaction of $355,651.12.

Garrett Motion Trading Up 0.3%

Garrett Motion stock opened at $35.11 on Friday. The firm has a market capitalization of $6.57 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.10 and a beta of 0.79. Garrett Motion Inc. has a twelve month low of $10.23 and a twelve month high of $35.41. The stock’s fifty day simple moving average is $29.63 and its 200-day simple moving average is $22.33.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. Garrett Motion’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. Garrett Motion’s payout ratio is currently 18.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GTX shares. JPMorgan Chase & Co. lifted their price target on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. Weiss Ratings started coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. Finally, Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.83.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GTX. JPMorgan Chase & Co. boosted its stake in Garrett Motion by 45.1% in the third quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company’s stock valued at $23,229,000 after acquiring an additional 529,949 shares in the last quarter. Comerica Bank lifted its holdings in shares of Garrett Motion by 22.0% in the 4th quarter. Comerica Bank now owns 251,371 shares of the company’s stock valued at $4,381,000 after purchasing an additional 45,370 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of Garrett Motion by 75.0% in the 4th quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock valued at $1,831,000 after purchasing an additional 45,000 shares during the last quarter. Yorkville Advisors Global LP acquired a new stake in shares of Garrett Motion in the 3rd quarter valued at about $11,168,000. Finally, Smead Capital Management Inc. purchased a new position in Garrett Motion during the 4th quarter worth approximately $4,257,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.