Key Points
- Garrett Motion SVP Thierry Mabru sold 70,000 shares on May 29 at an average price of $33.00, totaling about $2.31 million. After the sale, he still held 147,956 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- GTX shares were trading down 4.7% in the session, opening at $31.21, though the stock remains well above its 50-day and 200-day moving averages.
- Garrett Motion recently beat earnings estimates, reporting $0.49 EPS versus $0.43 expected and revenue of $985 million, while also announcing a quarterly dividend of $0.08 per share.
Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Thierry Mabru sold 70,000 shares of the business's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the transaction, the senior vice president owned 147,956 shares of the company's stock, valued at approximately $4,882,548. The trade was a 32.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Garrett Motion Trading Down 4.7%
Shares of GTX stock opened at $31.21 on Tuesday. The firm has a fifty day moving average price of $23.93 and a 200 day moving average price of $20.11. The company has a market cap of $5.84 billion, a P/E ratio of 18.25, a PEG ratio of 1.09 and a beta of 0.70. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $34.34.
Garrett Motion (NASDAQ:GTX - Get Free Report) last issued 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. The firm had revenue of $985.00 million during the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company's revenue was up 12.2% on a year-over-year basis. On average, equities analysts forecast that Garrett Motion Inc. will post 1.83 EPS for the current year.
Garrett Motion Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Garrett Motion's payout ratio is presently 18.71%.
Hedge Funds Weigh In On Garrett Motion
Several large investors have recently bought and sold shares of GTX. Cullen Frost Bankers Inc. boosted its stake in Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock valued at $25,000 after acquiring an additional 1,422 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company's stock worth $26,000 after buying an additional 1,350 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock worth $28,000 after buying an additional 970 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock worth $30,000 after buying an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion during the first quarter worth about $42,000. Institutional investors and hedge funds own 86.27% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently commented on GTX shares. Stifel Nicolaus boosted their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Zacks Research upgraded shares of Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. BWS Financial upped their price objective on shares of Garrett Motion from $32.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research note on Thursday, May 21st. 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. According to MarketBeat.com, Garrett Motion presently has a consensus rating of "Moderate Buy" and an average target price of $31.83.
Check Out Our Latest Analysis on Garrett Motion
Garrett Motion Company Profile
(
Get Free Report)
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.
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