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

Garrett Motion Inc. (NASDAQ:GTX) SVP Mark Albert Rodrigues sold 10,516 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $33.82, for a total value 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 trade represents a 11.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Stock Down 2.5%

Shares of Garrett Motion stock opened at $33.76 on Thursday. Garrett Motion Inc. has a 52 week low of $9.57 and a 52 week high of $35.06. The business’s fifty day simple moving average is $27.49 and its 200-day simple moving average is $21.50. The firm has a market cap of $6.32 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate 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 business had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities analysts expect that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

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

Institutional Investors Weigh In On Garrett Motion

Institutional investors and hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares during the period. Spire Wealth Management raised its holdings in shares of Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after buying an additional 1,350 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after buying an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion in the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. Stifel Nicolaus upped their price target on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a research note on Friday, May 1st. Finally, Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. One 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 stock. Based on data from MarketBeat.com, Garrett Motion presently has a consensus rating of “Moderate Buy” and a consensus 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.