Garrett Motion Inc. (GTX) To Go Ex-Dividend on September 1st

Garrett Motion Inc. (NASDAQ:GTX) declared a quarterly dividend on Wednesday, July 29th. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.08 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 1st.

Garrett Motion Price Performance

Shares of NASDAQ:GTX opened at $26.66 on Friday. Garrett Motion has a 1 year low of $12.26 and a 1 year high of $36.25. The company has a market cap of $4.97 billion, a P/E ratio of 14.65, a PEG ratio of 0.68 and a beta of 0.82. The stock’s fifty day moving average price is $30.79 and its 200-day moving average price is $26.28.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The company had revenue of $976.00 million during the quarter. During the same quarter in the previous year, the business posted $0.42 earnings per share. Garrett Motion’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Garrett Motion will post 1.91 earnings per share for the current year.

Insider Transactions at Garrett Motion

In related news, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the transaction, the chief financial officer owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total transaction of $204,462.00. Following the sale, the senior vice president owned 77,038 shares of the company’s stock, valued at $2,565,365.40. This trade represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 126,656 shares of company stock valued at $4,072,413. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion during the 1st quarter valued at $42,000. Jane Street Group LLC raised its holdings in Garrett Motion by 641.7% in the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock worth $761,000 after purchasing an additional 78,661 shares during the period. Cetera Investment Advisers bought a new position in Garrett Motion in the 2nd quarter worth $121,000. Legal & General Group Plc lifted its position in Garrett Motion by 30.4% during the second quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock valued at $1,024,000 after purchasing an additional 22,727 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Garrett Motion during the second quarter valued at $225,000. 86.27% of the stock is currently owned by institutional investors.

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.