Garrett Motion (NASDAQ:GTX) SVP Sells 30,000 Shares of Stock

Key Points

• Insider selling: SVP Daniel Deiro sold 30,000 Garrett Motion shares for approximately $801,000 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 18.32%. He also sold an additional 20,000 shares the following day.
• Quarterly results: Garrett Motion reported quarterly EPS of $0.53, beating estimates of $0.46, while revenue rose 6.9% year over year to $976 million.
• Analyst outlook and dividend: Analysts maintain a “Moderate Buy” consensus with an average price target of $38.60 versus the reported share price of $27.33. The company declared a quarterly dividend of $0.08 per share, representing a 1.2% annualized yield.

Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Daniel Deiro sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the completion of the sale, the senior vice president directly owned 133,783 shares of the company's stock, valued at approximately $3,572,006.10. This represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, September 2nd, Daniel Deiro sold 20,000 shares of Garrett Motion stock. The stock was sold at an average price of $26.89, for a total value of $537,800.00.

Garrett Motion Price Performance

Shares of GTX traded up $0.32 during mid-day trading on Thursday, hitting $27.33. The company's stock had a trading volume of 2,391,865 shares, compared to its average volume of 2,607,910. The firm has a 50-day moving average price of $30.37 and a 200 day moving average price of $26.47. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.68 and a beta of 0.79. Garrett Motion Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $36.25.

Garrett Motion (NASDAQ:GTX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.Garrett Motion's revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. As a group, equities analysts anticipate that Garrett Motion Inc. will post 1.91 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a "hold" rating to a "buy" rating and raised their target price for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Stifel Nicolaus increased their price objective on Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research report on Thursday, May 21st. Wall Street Zen cut Garrett Motion from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.60.

Hedge Funds Weigh In On Garrett Motion

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Garrett Motion in the 2nd quarter valued at approximately $461,794,000. Fuller & Thaler Asset Management Inc. acquired a new position in Garrett Motion in the 4th quarter valued at approximately $180,383,000. California State Teachers Retirement System grew its holdings in shares of Garrett Motion by 3,445.7% during the 2nd quarter. California State Teachers Retirement System now owns 7,182,018 shares of the company's stock worth $260,205,000 after purchasing an additional 6,979,463 shares in the last quarter. LSV Asset Management boosted its stake in Garrett Motion by 45.8% during the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company's stock worth $108,683,000 after buying an additional 1,958,808 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Garrett Motion by 170.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company's stock valued at $89,580,000 after acquiring an additional 3,241,952 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

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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