Insider Selling: Garrett Motion (NASDAQ:GTX) SVP Sells $801,000.00 in Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the sale, the senior vice president directly owned 133,783 shares in the company, valued at $3,572,006.10. This represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Wednesday, September 2nd, Daniel Deiro sold 20,000 shares of Garrett Motion stock. The shares were sold at an average price of $26.89, for a total value of $537,800.00.

Garrett Motion Price Performance

Shares of NASDAQ:GTX traded up $0.32 during midday trading on Thursday, reaching $27.33. The company’s stock had a trading volume of 2,391,865 shares, compared to its average volume of 2,607,910. Garrett Motion Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The company has a market capitalization of $5.10 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.68 and a beta of 0.79. The business’s fifty day simple moving average is $30.37 and its 200-day simple moving average is $26.47.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. The business had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. Garrett Motion’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. On average, analysts forecast 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. Stockholders of record on Tuesday, September 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is 17.58%.

Institutional Trading of Garrett Motion

A number of institutional investors have recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Garrett Motion during the second quarter worth about $1,235,000. California State Teachers Retirement System raised its position in Garrett Motion by 3,445.7% in the 2nd quarter. California State Teachers Retirement System now owns 7,182,018 shares of the company’s stock valued at $260,205,000 after buying an additional 6,979,463 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Garrett Motion by 9.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 36,044 shares of the company’s stock valued at $1,210,000 after acquiring an additional 3,057 shares in the last quarter. Nykredit A S bought a new stake in Garrett Motion in the 2nd quarter valued at approximately $172,000. Finally, Hennessy Advisors Inc. acquired a new position in Garrett Motion during the 2nd quarter worth approximately $13,246,000. 86.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GTX has been the topic of several recent research reports. BWS Financial reiterated a “buy” rating and issued a $42.00 price target on shares of Garrett Motion in a report on Thursday, July 30th. Wall Street Zen cut Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. upped their target price on shares of Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.