Insider Selling: Garrett Motion (NASDAQ:GTX) SVP Sells 70,000 Shares of Stock

Key Points

• Garrett Motion SVP Thierry Mabru sold 70,000 shares on May 29 at an average price of $33.00, totaling about $2.31 million. After the sale, he still held 147,956 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
• GTX shares fell 4.7% to $31.21 in Monday trading, though volume was above average. The stock has traded between a 12-month low of $9.57 and a high of $34.34.
• The company reported stronger-than-expected Q1 results, with EPS of $0.49 versus the $0.43 estimate and revenue of $985 million, up 12.2% year over year. Garrett Motion also announced a quarterly dividend of $0.08 per share, implying a 1.0% annualized yield.

Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Thierry Mabru sold 70,000 shares of Garrett Motion stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the sale, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. This represents a 32.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Stock Down 4.7%

NASDAQ GTX traded down $1.55 on Monday, reaching $31.21. The company had a trading volume of 3,454,597 shares, compared to its average volume of 3,118,214. The stock has a market capitalization of $5.84 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79. The firm's 50 day moving average price is $23.93 and its 200 day moving average price is $20.11. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $34.34.

Garrett Motion (NASDAQ:GTX - Get Free Report) last announced 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 company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm's quarterly revenue was up 12.2% on a year-over-year basis. On average, research analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given 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 is Monday, June 1st. Garrett Motion's dividend payout ratio is currently 18.71%.

Hedge Funds Weigh In On Garrett Motion

A number of hedge funds have recently added to or reduced their stakes in GTX. Cullen Frost Bankers Inc. boosted its stake in shares of Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock valued at $25,000 after purchasing an additional 1,422 shares in the last quarter. Spire Wealth Management lifted 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 valued at $26,000 after acquiring an additional 1,350 shares during the last quarter. Global Retirement Partners LLC lifted 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 valued at $28,000 after acquiring an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position 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 valued at $30,000 after acquiring an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Garrett Motion during the first quarter valued at approximately $42,000. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. Freedom Capital cut shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, May 14th. Zacks Research raised shares of Garrett Motion from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 22nd. Finally, BWS Financial increased their price objective on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.83.

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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