Garrett Motion (NASDAQ:GTX) CFO Sean Deason Sells 110,000 Shares

Garrett Motion Inc. (NASDAQ:GTX) CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the sale, the chief financial officer owned 261,909 shares in the company, valued at $8,362,754.37. This represents a 29.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $32.25 on Tuesday. Garrett Motion Inc. has a one year low of $9.57 and a one year high of $34.34. The stock’s fifty day moving average is $25.35 and its 200 day moving average is $20.65. The stock has a market cap of $6.04 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.00 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 analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Garrett Motion’s payout ratio is 18.71%.

Institutional Trading of Garrett Motion

Several hedge funds have recently made changes to their positions in GTX. Fuller & Thaler Asset Management Inc. purchased a new stake in Garrett Motion in the 4th quarter worth about $180,383,000. William Blair Investment Management LLC raised its position in Garrett Motion by 51.0% in the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after purchasing an additional 2,605,296 shares during the period. LSV Asset Management raised its position in Garrett Motion by 45.8% in the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock worth $108,683,000 after purchasing an additional 1,958,808 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Garrett Motion by 170.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after purchasing an additional 3,241,952 shares during the period. Finally, Marshall Wace LLP raised its position in Garrett Motion by 85.9% in the 4th quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock worth $77,968,000 after purchasing an additional 2,067,264 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GTX has been the topic of several research analyst reports. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research note on Thursday, May 21st. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus upped their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, 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. One investment 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. According to MarketBeat, the stock currently has an average 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.