Key Points
- Garrett Motion SVP Mark Albert Rodrigues sold 10,516 shares on June 12 for about $355,651 at an average price of $33.82, leaving him with 83,178 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The company recently posted strong quarterly results, with EPS of $0.49 beating expectations and revenue of $985 million topping estimates. Revenue also rose 12.2% year over year.
- Garrett Motion also paid a quarterly dividend of $0.08 per share, equal to a 0.9% annualized yield. Meanwhile, analysts remain generally positive, with the stock carrying an average Moderate Buy rating and a $31.83 target price.
Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Mark Albert Rodrigues sold 10,516 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12. Following the completion of the sale, the senior vice president owned 83,178 shares in the company, valued at $2,813,079.96. This represents a 11.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Garrett Motion Price Performance
Shares of Garrett Motion stock opened at $34.61 on Wednesday. Garrett Motion Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $35.06. The firm has a market capitalization of $6.48 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.07 and a beta of 0.79. The company's 50 day moving average price is $27.19 and its two-hundred day moving average price is $21.38.
Garrett Motion (NASDAQ:GTX - Get Free Report) last released its quarterly earnings results 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 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 business's revenue was up 12.2% compared to the same quarter last year. On average, analysts expect that Garrett Motion Inc. will post 1.83 earnings per share for the current year.
Garrett Motion Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.9%. Garrett Motion's payout ratio is presently 18.71%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Stifel Nicolaus increased 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. Zacks Research raised Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 22nd. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. BWS Financial increased their price target on Garrett Motion from $32.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, Freedom Capital cut Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Garrett Motion currently has an average rating of "Moderate Buy" and an average target price of $31.83.
Check Out Our Latest Research Report on Garrett Motion
Hedge Funds Weigh In On Garrett Motion
Several hedge funds and other institutional investors have recently bought and sold shares of GTX. Fuller & Thaler Asset Management Inc. acquired a new position in Garrett Motion in the fourth quarter valued at $180,383,000. Arrowstreet Capital Limited Partnership lifted its holdings in Garrett Motion by 170.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company's stock valued at $89,580,000 after buying an additional 3,241,952 shares during the period. Merewether Investment Management LP acquired a new position in Garrett Motion in the third quarter valued at $40,590,000. BlueCrest Capital Management Ltd acquired a new position in Garrett Motion in the third quarter valued at $36,539,000. Finally, William Blair Investment Management LLC lifted its holdings in Garrett Motion by 51.0% in the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company's stock valued at $105,090,000 after buying an additional 2,605,296 shares during the period. Institutional investors and hedge funds own 86.27% of the company's stock.
Garrett Motion Company Profile
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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.
Further Reading
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