Garrett Motion (NASDAQ:GTX) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Garrett Motion reported EPS of $0.49 versus a $0.43 consensus (a $0.06 beat) and revenue rose 12.2% year-over-year, sending the stock up about 25% to $25.62 on heavy volume.
• The company declared a quarterly dividend of $0.08 (annualized $0.32) with an ex-dividend date of June 1, implying a yield of roughly 1.2%.
• Insiders have sold 337,000 shares (~$6.84M) in the past 90 days while institutional investors own 86.27% of the company, including large new stakes from Fuller & Thaler, Marshall Wace and Arrowstreet.

Garrett Motion (NASDAQ:GTX - Get Free Report) released its earnings results on Thursday. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06, Briefing.com reports. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The company's quarterly revenue was up 12.2% on a year-over-year basis.

Garrett Motion Trading Up 25.0%

NASDAQ:GTX traded up $5.13 on Thursday, hitting $25.62. The company's stock had a trading volume of 7,280,452 shares, compared to its average volume of 2,371,538. The stock has a fifty day moving average of $18.96 and a two-hundred day moving average of $17.85. The firm has a market capitalization of $4.82 billion, a P/E ratio of 20.17 and a beta of 0.44. Garrett Motion has a one year low of $9.57 and a one year high of $25.77.

Garrett Motion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion's dividend payout ratio is currently 21.05%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the sale, the senior vice president owned 160,994 shares in the company, valued at $3,266,568.26. This represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julia Steyn sold 17,000 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total value of $337,620.00. Following the completion of the sale, the director owned 50,233 shares in the company, valued at $997,627.38. This represents a 25.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 337,000 shares of company stock worth $6,839,290 over the last 90 days. Company insiders own 1.10% of the company's stock.

Institutional Trading of Garrett Motion

Several institutional investors and hedge funds have recently bought and sold shares of GTX. Fuller & Thaler Asset Management Inc. bought a new stake in Garrett Motion in the fourth quarter valued at approximately $180,383,000. Merewether Investment Management LP bought a new stake in Garrett Motion in the third quarter valued at approximately $40,590,000. BlueCrest Capital Management Ltd bought a new stake in Garrett Motion in the third quarter valued at approximately $36,539,000. Marshall Wace LLP raised its stake in Garrett Motion by 85.9% in the fourth quarter. Marshall Wace LLP now owns 4,473,196 shares of the company's stock valued at $77,968,000 after buying an additional 2,067,264 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Garrett Motion by 5,889.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,897,487 shares of the company's stock valued at $25,844,000 after buying an additional 1,865,809 shares during the period. Institutional investors own 86.27% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GTX shares. BWS Financial reiterated a "buy" rating on shares of Garrett Motion in a report on Thursday. Freedom Capital upgraded Garrett Motion to a "strong-buy" rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.