Garrett Motion (NYSE:GTX) Director Julia Steyn Sells 17,000 Shares

Garrett Motion Inc. (NYSE:GTX) Director Julia Steyn sold 17,000 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the sale, the director directly owned 50,233 shares of the company’s stock, valued at $997,627.38. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Garrett Motion Trading Up 0.8%

Shares of GTX stock traded up $0.16 on Thursday, hitting $20.46. 2,002,573 shares of the stock were exchanged, compared to its average volume of 2,572,181. The business has a 50-day moving average of $18.67 and a 200 day moving average of $16.09. Garrett Motion Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $21.42. The firm has a market capitalization of $3.89 billion, a P/E ratio of 16.11 and a beta of 0.33.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The business 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 of this dividend is Monday, March 2nd. This represents a $0.32 annualized dividend and a yield of 1.6%. Garrett Motion’s dividend payout ratio is 21.05%.

Garrett Motion declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 3rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

GTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on 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 lifted their price objective 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. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, BWS Financial lifted their price target on Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Garrett Motion currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds have recently bought and sold shares of GTX. 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 acquiring an additional 970 shares during the period. D Orazio & Associates Inc. boosted its holdings in shares of Garrett Motion by 7.2% in the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock valued at $206,000 after purchasing an additional 1,015 shares in the last quarter. Spire Wealth Management grew its position in Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after acquiring an additional 1,350 shares during the last quarter. Cullen Frost Bankers Inc. increased its position 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 worth $25,000 after purchasing an additional 1,422 shares in the last quarter. Finally, Baron Wealth Management LLC increased its holdings in shares of Garrett Motion by 6.3% during the fourth quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock worth $461,000 after buying an additional 1,570 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

About Garrett Motion

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.