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 dated Friday, June 12th. The stock was sold at an average price of $33.82, for a total transaction of $355,651.12. Following the sale, the senior vice president directly owned 83,178 shares of the company’s stock, valued at $2,813,079.96. The trade was a 11.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Stock Up 1.7%

Garrett Motion stock opened at $34.32 on Friday. The company’s 50-day moving average price is $27.82 and its two-hundred day moving average price is $21.62. The stock has a market cap of $6.42 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.06 and a beta of 0.79. Garrett Motion Inc. has a twelve month low of $9.57 and a twelve month high of $35.06.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.9%. Garrett Motion’s payout ratio is 18.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GTX shares. Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a report on Thursday, May 21st. Weiss Ratings assumed coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. JPMorgan Chase & Co. lifted their price objective 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. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.83.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors and hedge funds have recently bought and sold shares of GTX. Arete Wealth Advisors LLC acquired a new stake in Garrett Motion during the first quarter worth about $224,000. Janus Henderson Group PLC raised its position in shares of Garrett Motion by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 78,600 shares of the company’s stock valued at $1,429,000 after buying an additional 14,300 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Garrett Motion by 50.2% in the 1st quarter. California State Teachers Retirement System now owns 202,555 shares of the company’s stock valued at $3,680,000 after buying an additional 67,740 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Garrett Motion by 2.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 88,693 shares of the company’s stock worth $1,612,000 after acquiring an additional 2,198 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of Garrett Motion by 25.7% during the 1st quarter. Quantinno Capital Management LP now owns 16,703 shares of the company’s stock worth $303,000 after acquiring an additional 3,415 shares in the last quarter. Institutional investors 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.