Garrett Motion (NASDAQ:GTX) SVP Mark Albert Rodrigues Sells 6,140 Shares

Garrett Motion Inc. (NASDAQ:GTX) SVP Mark Albert Rodrigues sold 6,140 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total transaction of $204,462.00. Following the transaction, the senior vice president owned 77,038 shares in the company, valued at approximately $2,565,365.40. The trade was a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Albert Rodrigues also recently made the following trade(s):

• On Friday, June 12th, Mark Albert Rodrigues sold 10,516 shares of Garrett Motion stock. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12.

Garrett Motion Stock Performance

Shares of GTX opened at $35.11 on Friday. The company has a 50 day moving average price of $29.63 and a 200-day moving average price of $22.33. Garrett Motion Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $35.41. The stock has a market capitalization of $6.57 billion, a PE ratio of 20.53, a PEG ratio of 1.10 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $985.00 million for the quarter, compared to analyst estimates 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 revenue was up 12.2% on a year-over-year basis. Equities research analysts forecast that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Dividend Announcement

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

Analysts Set New Price Targets

GTX has been the topic of several analyst reports. BWS Financial lifted their target price on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Stifel Nicolaus raised their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings began coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. One 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

Hedge Funds Weigh In On Garrett Motion

Several hedge funds and other institutional investors have recently modified their holdings of GTX. Fuller & Thaler Asset Management Inc. acquired a new position in Garrett Motion during the 4th quarter valued at approximately $180,383,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after buying an additional 3,241,952 shares during the period. Merewether Investment Management LP purchased a new stake in shares of Garrett Motion during the third quarter valued at $40,590,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Garrett Motion during the third quarter valued at $36,539,000. Finally, William Blair Investment Management LLC increased its position in shares of 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 valued at $105,090,000 after acquiring an additional 2,605,296 shares during the period. 86.27% of the stock is owned by hedge funds and other institutional investors.

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.