Key Points
- Garrett Motion SVP Mark Albert Rodrigues sold 6,140 shares on June 24 at an average price of $33.30, totaling about $204,462. The sale reduced his ownership by 7.38% and was made under a pre-arranged Rule 10b5-1 plan.
- Rodrigues also sold 10,516 shares on June 12 at an average price of $33.82, indicating a recent pattern of insider selling in the stock.
- Garrett Motion recently reported strong quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a Moderate Buy with a consensus price target of $31.83.
Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Mark Albert Rodrigues sold 6,140 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total transaction of $204,462.00. Following the completion of the sale, the senior vice president directly owned 77,038 shares in the company, valued at $2,565,365.40. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $33.82, for a total transaction of $355,651.12.
Garrett Motion Price Performance
Shares of Garrett Motion stock opened at $35.11 on Friday. The stock has a market cap of $6.57 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79. The firm has a fifty day moving average price of $29.63 and a 200 day moving average price of $22.33. Garrett Motion Inc. has a 1 year low of $10.23 and a 1 year high of $35.41.
Garrett Motion (NASDAQ:GTX - Get Free Report) last posted 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. 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%. Garrett Motion's revenue was up 12.2% on a year-over-year basis. As a group, equities analysts expect that Garrett Motion Inc. will post 1.83 EPS for the current year.
Garrett Motion Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid 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 is presently 18.71%.
Analysts Set New Price Targets
Several research analysts recently weighed in on GTX shares. Freedom Capital cut Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. BWS Financial upped their price objective on Garrett Motion from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Weiss Ratings began coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They set a "buy (b)" rating on the stock. Zacks Research raised shares of Garrett Motion from a "hold" rating to a "strong-buy" rating in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.83.
Read Our Latest Stock Report on GTX
Institutional Trading of Garrett Motion
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. raised its position in shares of Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after purchasing an additional 1,422 shares during the last quarter. Spire Wealth Management increased its stake in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company's stock worth $26,000 after buying an additional 1,350 shares in the last quarter. Global Retirement Partners LLC increased its stake in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock worth $28,000 after buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings 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 valued at $30,000 after acquiring an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.27% of the company's stock.
About Garrett Motion
(
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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