Garrett Motion (NASDAQ:GTX) SVP Mark Albert Rodrigues Sells 6,140 Shares of 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 shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the transaction, the senior vice president owned 77,038 shares in the company, valued at $2,565,365.40. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $355,651.12.

Garrett Motion Stock Up 0.3%

NASDAQ:GTX traded up $0.10 on Friday, reaching $35.11. The company’s stock had a trading volume of 7,884,099 shares, compared to its average volume of 2,731,686. Garrett Motion Inc. has a 12-month low of $10.23 and a 12-month high of $35.41. The stock has a 50 day moving average price of $29.63 and a 200 day moving average price of $22.33. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Equities research analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GTX shares. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price target on shares of Garrett Motion in a research note on Friday, May 1st. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research note on Thursday, May 21st. JPMorgan Chase & Co. lifted their price objective on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus increased their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

Institutional Investors Weigh In On Garrett Motion

Institutional investors have recently added to or reduced their stakes in the business. Convergence Investment Partners LLC increased its position in Garrett Motion by 0.9% in the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after acquiring an additional 423 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Garrett Motion by 22.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after buying an additional 629 shares during the period. Baron Wealth Management LLC grew its holdings in Garrett Motion by 3.3% during the first quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock worth $496,000 after acquiring an additional 878 shares during the period. Global Retirement Partners LLC lifted its holdings in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 970 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Garrett Motion by 2.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock valued at $707,000 after acquiring an additional 995 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.

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.