Key Points
- Garrett Motion SVP Daniel Deiro sold 20,000 shares at an average price of $26.89, generating $537,800. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 14.95% to 113,783 shares; he also sold 30,000 shares the previous day.
- Garrett Motion reported quarterly EPS of $0.53, exceeding analyst expectations of $0.46, while revenue rose 6.9% year over year to $976 million. The company also declared a quarterly dividend of $0.08, equivalent to a 1.2% annual yield.
- Analysts maintain a generally positive view, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $38.60 versus the stock’s reported $27.33 opening price.
Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) SVP Daniel Deiro sold 20,000 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $26.89, for a total transaction of $537,800.00. Following the completion of the sale, the senior vice president owned 113,783 shares in the company, valued at $3,059,624.87. This represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Daniel Deiro also recently made the following trade(s):
- On Tuesday, September 1st, Daniel Deiro sold 30,000 shares of Garrett Motion stock. The shares were sold at an average price of $26.70, for a total transaction of $801,000.00.
Garrett Motion Stock Up 1.2%
GTX stock opened at $27.33 on Friday. Garrett Motion Inc. has a 52 week low of $12.26 and a 52 week high of $36.25. The company has a fifty day simple moving average of $30.22 and a two-hundred day simple moving average of $26.51. The firm has a market capitalization of $5.10 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.69 and a beta of 0.79.
Garrett Motion (NASDAQ:GTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business had revenue of $976.00 million during the quarter. During the same period in the previous year, the business earned $0.42 earnings per share. The business's quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Garrett Motion Inc. will post 1.91 EPS for the current year.
Garrett Motion Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion's dividend payout ratio (DPR) is currently 17.58%.
Hedge Funds Weigh In On Garrett Motion
A number of large investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its holdings in Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock valued at $25,000 after purchasing an additional 1,422 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in Garrett Motion in the second quarter worth about $27,000. Global Retirement Partners LLC lifted its stake in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock worth $28,000 after purchasing an additional 970 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Garrett Motion during the first quarter valued at approximately $42,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Garrett Motion during the second quarter valued at approximately $45,000. 86.27% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a "hold" rating to a "buy" rating and upped their price objective for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Garrett Motion in a report on Friday, July 24th. BWS Financial reissued a "buy" rating and set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, July 30th. Stifel Nicolaus increased their price target on Garrett Motion from $29.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. raised their price target on Garrett Motion from $33.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.60.
Check Out Our Latest Analysis on GTX
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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