Daniel Deiro Sells 20,000 Shares of Garrett Motion (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) SVP Daniel Deiro sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the transaction, the senior vice president owned 160,994 shares of the company’s stock, valued at $3,266,568.26. This trade represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Daniel Deiro also recently made the following trade(s):

• On Wednesday, February 25th, Daniel Deiro sold 13,000 shares of Garrett Motion stock. The stock was sold at an average price of $20.31, for a total value of $264,030.00.

Garrett Motion Stock Performance

NYSE GTX traded down $0.10 on Friday, reaching $20.36. 3,362,113 shares of the stock traded hands, compared to its average volume of 2,592,434. Garrett Motion Inc. has a 12 month low of $7.01 and a 12 month high of $21.42. The company has a fifty day moving average price of $18.73 and a 200-day moving average price of $16.15. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 16.03 and a beta of 0.33.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, March 2nd. Garrett Motion’s payout ratio is presently 21.05%.

Garrett Motion declared that its board has approved a stock buyback program on Wednesday, December 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently added to or reduced their stakes in GTX. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter valued at about $180,383,000. LSV Asset Management purchased a new stake in Garrett Motion during the 3rd quarter worth approximately $58,247,000. Arrowstreet Capital Limited Partnership lifted its holdings 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 valued at $89,580,000 after purchasing an additional 3,241,952 shares in the last quarter. Merewether Investment Management LP acquired a new stake in Garrett Motion during the 3rd quarter worth $40,590,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Garrett Motion in the third quarter valued at approximately $36,539,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GTX shares. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. BWS Financial boosted their target price on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. initiated coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.80.

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.