Garrett Motion (NASDAQ:GTX) Director Sells $536,297.16 in Stock

Key Points

• Director Daniel Ninivaggi sold 17,178 shares of Garrett Motion stock for about $536,297 at an average price of $31.22, reducing his direct stake by 12.09%. The sale was made under a pre-arranged Rule 10b5-1 plan.
• GTX shares slipped 2.8% to $30.98 in Friday trading, near the stock’s 52-week high of $32.44. The company has a market cap of $5.8 billion and a P/E ratio of 18.12.
• Garrett Motion recently beat earnings expectations, reporting Q1 EPS of $0.49 versus $0.43 expected and revenue of $985 million versus $917.23 million forecast. The company also announced a quarterly dividend of $0.08 per share.

Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) Director Daniel Ninivaggi sold 17,178 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the sale, the director directly owned 124,885 shares in the company, valued at $3,898,909.70. This trade represents a 12.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Stock Down 2.8%

Shares of GTX traded down $0.89 during mid-day trading on Friday, reaching $30.98. 2,022,539 shares of the company's stock were exchanged, compared to its average volume of 3,101,842. The company has a 50-day simple moving average of $20.76 and a two-hundred day simple moving average of $18.93. Garrett Motion Inc. has a 52-week low of $9.57 and a 52-week high of $32.44. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.06 and a beta of 0.70.

Garrett Motion (NASDAQ:GTX - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business's revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that Garrett Motion Inc. will post 1.83 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Garrett Motion's dividend payout ratio (DPR) is currently 18.71%.

Institutional Trading of Garrett Motion

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its holdings in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after buying an additional 1,422 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company's stock valued at $26,000 after acquiring an additional 1,350 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Garrett Motion by 156.7% during the 4th 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 in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock valued at $30,000 after acquiring an additional 1,593 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Garrett Motion by 361.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company's stock worth $49,000 after purchasing an additional 2,210 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GTX has been the topic of a number of research analyst reports. Freedom Capital lowered Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. BWS Financial increased their target price on shares of Garrett Motion from $22.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st. Stifel Nicolaus lifted their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Garrett Motion from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.80.

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.

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