Daniel Deiro Sells 20,000 Shares of Garrett Motion (NASDAQ:GTX) Stock

Key Points

• Insider sale: Senior Vice President Daniel Deiro sold 20,000 Garrett Motion shares for approximately $537,800 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 14.95%. He also sold 30,000 shares the previous day.
• Stock and earnings: GTX traded at $27.33, with a market capitalization of about $5.10 billion. Garrett Motion reported quarterly EPS of $0.53, exceeding estimates by $0.07, while revenue rose 6.9% year over year to $976 million.
• Investor outlook: Institutional investors own 86.27% of the company, and analysts maintain a “Moderate Buy” consensus with an average price target of $38.60. Garrett Motion also declared a quarterly dividend of $0.08 per share, implying a 1.2% yield.

Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Daniel Deiro sold 20,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total transaction of $537,800.00. Following the completion of the sale, the senior vice president directly owned 113,783 shares in the company, valued at approximately $3,059,624.87. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Deiro also recently made the following trade(s):

• On Tuesday, September 1st, Daniel Deiro sold 30,000 shares of Garrett Motion stock. The shares were sold at an average price of $26.70, for a total transaction of $801,000.00.

Garrett Motion Price Performance

NASDAQ:GTX traded up $0.32 during trading hours on Thursday, reaching $27.33. 2,391,865 shares of the company traded hands, compared to its average volume of 2,607,910. Garrett Motion Inc. has a 1-year low of $12.26 and a 1-year high of $36.25. The stock has a market cap of $5.10 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.68 and a beta of 0.79. The firm's 50-day moving average is $30.37 and its 200-day moving average is $26.47.

Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.07. The business had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, research analysts predict that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Garrett Motion's dividend payout ratio is presently 17.58%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GTX. Convergence Investment Partners LLC increased its position in shares of Garrett Motion by 0.9% in the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company's stock worth $835,000 after acquiring an additional 423 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 acquiring an additional 629 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $27,000. Baron Wealth Management LLC boosted its stake in Garrett Motion by 3.3% in the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company's stock worth $496,000 after purchasing an additional 878 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in Garrett Motion by 156.7% in the 4th 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 period. 86.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GTX shares. Stifel Nicolaus upped their target price on Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Zacks Research lowered Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on Garrett Motion from $33.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Garrett Motion currently has an average rating of "Moderate Buy" and a consensus target price of $38.60.

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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