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

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $26.89, for a total value of $537,800.00. Following the completion of the sale, the senior vice president directly owned 113,783 shares of the company’s stock, valued at approximately $3,059,624.87. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Tuesday, September 1st, Daniel Deiro sold 30,000 shares of Garrett Motion stock. The shares were sold at an average price of $26.70, for a total value of $801,000.00.

Garrett Motion Price Performance

Garrett Motion stock traded up $0.32 during mid-day trading on Thursday, hitting $27.33. The company’s stock had a trading volume of 2,391,865 shares, compared to its average volume of 2,607,910. The firm’s 50 day moving average is $30.37 and its 200 day moving average is $26.47. The company has a market cap of $5.10 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.68 and a beta of 0.79. Garrett Motion Inc. has a 52-week low of $12.26 and a 52-week high of $36.25.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping 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 during the quarter. During the same quarter in the previous year, the business posted $0.42 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Garrett Motion Inc. will post 1.91 EPS for the current 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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s dividend payout ratio is currently 17.58%.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Convergence Investment Partners LLC grew its holdings in Garrett Motion by 0.9% during the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after purchasing an additional 423 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Garrett Motion by 22.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after buying an additional 629 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Garrett Motion during the 2nd quarter worth $27,000. Baron Wealth Management LLC boosted its holdings in shares of Garrett Motion by 3.3% during the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock worth $496,000 after buying an additional 878 shares during the period. Finally, Global Retirement Partners LLC grew its stake in 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 buying an additional 970 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GTX. Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. BWS Financial reaffirmed a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, July 30th. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and increased their price target for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Finally, Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Garrett Motion presently 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.