Garrett Motion Inc. (GTX) to Distribute Quarterly Dividend of $0.08 on December 15th

Garrett Motion Inc. (NASDAQ:GTX) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.08 per share on Tuesday, December 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, December 1st.

Garrett Motion Trading Down 7.0%

NASDAQ GTX opened at $20.91 on Friday. The business’s 50 day moving average is $25.54 and its two-hundred day moving average is $25.34. Garrett Motion has a 12-month low of $15.54 and a 12-month high of $36.25. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.67 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $930.00 million during the quarter. Garrett Motion had a negative return on equity of 52.43% and a net margin of 9.97%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. Equities analysts forecast that Garrett Motion will post 1.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Daniel Deiro sold 30,000 shares of Garrett Motion stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the completion of the transaction, the senior vice president directly owned 133,783 shares of the company’s stock, valued at approximately $3,572,006.10. The trade was a 18.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.

Institutional Trading of Garrett Motion

Several large investors have recently bought and sold shares of the company. Signature Equity Partners LLC purchased a new position in Garrett Motion in the 3rd quarter valued at about $35,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Garrett Motion by 202.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 38,725 shares of the company’s stock worth $1,008,000 after purchasing an additional 25,925 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Garrett Motion by 23.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 42,100 shares of the company’s stock worth $1,096,000 after buying an additional 8,000 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of Garrett Motion by 17.3% during the third quarter. Tectonic Advisors LLC now owns 89,639 shares of the company’s stock worth $2,333,000 after buying an additional 13,207 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Garrett Motion in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.