Garrett Motion (NASDAQ:GTX) SVP Mark Albert Rodrigues Sells 6,140 Shares

Key Points

• Garrett Motion SVP Mark Albert Rodrigues sold 6,140 shares on June 24 at an average price of $33.30, totaling about $204,462. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 7.38%.
• The insider selling follows another recent sale by Rodrigues on June 12, when he sold 10,516 shares for about $355,651, adding to recent transaction activity in the stock.
• Garrett Motion shares were trading near a 52-week high at $35.11, after a strong earnings report that beat estimates and a quarterly dividend of $0.08 per share. Analysts currently have a Moderate Buy consensus on the stock.

Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Mark Albert Rodrigues sold 6,140 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total value of $204,462.00. Following 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $33.82, for a total value of $355,651.12.

Garrett Motion Stock Up 0.3%

Shares of GTX stock traded up $0.10 during trading hours on Friday, hitting $35.11. 7,884,099 shares of the company's stock were exchanged, compared to its average volume of 2,731,686. The firm has a market cap of $6.57 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.10 and a beta of 0.79. The firm has a 50 day moving average of $29.63 and a two-hundred day moving average of $22.33. Garrett Motion Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $35.41.

Garrett Motion (NASDAQ:GTX - Get Free Report) last released its quarterly 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 analysts' expectations of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company's quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GTX shares. Zacks Research upgraded Garrett Motion from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. raised their price objective on Garrett Motion from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. Stifel Nicolaus lifted their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, Weiss Ratings initiated coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They issued a "buy (b)" rating for the company. One investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.83.

Hedge Funds Weigh In On Garrett Motion

Institutional investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. increased its stake in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after acquiring an additional 1,422 shares during the last quarter. Spire Wealth Management increased its position in Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company's stock worth $26,000 after purchasing an additional 1,350 shares during the last quarter. Global Retirement Partners LLC increased its position in Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock worth $28,000 after purchasing an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock worth $30,000 after purchasing an additional 1,593 shares during the period. Finally, PNC Financial Services Group Inc. raised 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 period. Hedge funds and other 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.

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