Garrett Motion (NASDAQ:GTX) SVP Mark Albert Rodrigues Sells 10,516 Shares

Garrett Motion Inc. (NASDAQ:GTX) SVP Mark Albert Rodrigues sold 10,516 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $33.82, for a total transaction of $355,651.12. Following the transaction, the senior vice president directly owned 83,178 shares in the company, valued at $2,813,079.96. This represents a 11.22% 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.

Garrett Motion Trading Up 1.4%

Shares of GTX opened at $34.61 on Wednesday. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $35.06. The firm’s 50 day moving average is $27.19 and its 200-day moving average is $21.38. The stock has a market capitalization of $6.48 billion, a PE ratio of 20.24, a P/E/G ratio of 1.07 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $917.23 million. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities research analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. Garrett Motion’s dividend payout ratio (DPR) is currently 18.71%.

Institutional Trading of Garrett Motion

Large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in Garrett Motion in the first quarter valued at approximately $42,000. Jane Street Group LLC boosted its position in Garrett Motion by 641.7% in the first quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after buying an additional 78,661 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Garrett Motion in the second quarter valued at approximately $121,000. Legal & General Group Plc boosted its position in Garrett Motion by 30.4% in the second quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock valued at $1,024,000 after buying an additional 22,727 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Garrett Motion in the second quarter valued at approximately $225,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BWS Financial increased their price target 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. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, May 21st. JPMorgan Chase & Co. increased their price target 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price target on shares of Garrett Motion in a research report on Friday, May 1st. Finally, Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Garrett Motion currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

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.