Key Points
- Director sale: Garrett Motion director Julia Steyn sold 17,000 shares on Feb 24 at an average of $19.86 for proceeds of $337,620, reducing her stake by 25.29% to 50,233 shares (SEC filing).
- Capital returns: The company declared a $0.08 quarterly dividend (ex-dividend Mar 2, payable Mar 16) and its board authorized a $250 million share repurchase plan (up to ~7.7% of outstanding shares).
- Operational and analyst outlook: Garrett beat quarterly EPS estimates ($0.42 vs. $0.39) with revenue up 5.6%, and analysts maintain a "Moderate Buy" consensus with an average price target of $18.80.
Garrett Motion Inc. (NYSE:GTX - Get Free Report) Director Julia Steyn sold 17,000 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction of $337,620.00. Following the completion of the transaction, the director owned 50,233 shares in the company, valued at $997,627.38. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Garrett Motion Price Performance
Garrett Motion stock opened at $20.46 on Friday. The firm has a market cap of $3.89 billion, a PE ratio of 16.11 and a beta of 0.33. The stock's fifty day moving average price is $18.67 and its two-hundred day moving average price is $16.09. Garrett Motion Inc. has a one year low of $7.01 and a one year high of $21.42.
Garrett Motion (NYSE:GTX - Get Free Report) last released its earnings results on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The company's revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.
Garrett Motion Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. Garrett Motion's dividend payout ratio (DPR) is currently 21.05%.
Garrett Motion announced that its board has authorized a stock repurchase plan on Wednesday, December 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
GTX has been the subject of several research reports. BWS Financial increased their target price on Garrett Motion from $18.00 to $22.00 and gave the company 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 objective for the company. Stifel Nicolaus upped their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, December 16th. Finally, Zacks Research downgraded Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.80.
Read Our Latest Analysis on GTX
Institutional Trading of Garrett Motion
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its stake in shares of 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 buying an additional 1,422 shares in the last quarter. Spire Wealth Management raised its position in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company's stock valued at $26,000 after buying an additional 1,350 shares during the last quarter. Global Retirement Partners LLC boosted its holdings 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 acquiring an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock worth $30,000 after acquiring an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion in the 1st quarter worth $42,000. 86.27% of the stock is owned by institutional investors.
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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