Garrett Motion (NASDAQ:GTX) SVP Daniel Deiro Sells 30,000 Shares

Garrett Motion Inc. (NASDAQ:GTX) SVP Daniel Deiro sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total transaction of $801,000.00. Following the transaction, the senior vice president owned 133,783 shares in the company, valued at approximately $3,572,006.10. This trade represents a 18.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Deiro also recently made the following trade(s):

• On Wednesday, September 2nd, Daniel Deiro sold 20,000 shares of Garrett Motion stock. The stock was sold at an average price of $26.89, for a total transaction of $537,800.00.

Garrett Motion Trading Up 1.2%

NASDAQ:GTX opened at $27.33 on Friday. The company has a market cap of $5.10 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.69 and a beta of 0.79. The company has a 50 day simple moving average of $30.22 and a two-hundred day simple moving average of $26.51. Garrett Motion Inc. has a 12 month low of $12.26 and a 12 month high of $36.25.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. The firm had revenue of $976.00 million for the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.Garrett Motion’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Research analysts forecast that Garrett Motion Inc. will post 1.91 earnings per share for the current year.

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Garrett Motion’s dividend payout ratio is currently 17.58%.

Institutional Trading of Garrett Motion

Institutional investors and hedge funds have recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Garrett Motion in the 2nd quarter worth $1,235,000. California State Teachers Retirement System raised its holdings in Garrett Motion by 3,445.7% during the second quarter. California State Teachers Retirement System now owns 7,182,018 shares of the company’s stock valued at $260,205,000 after acquiring an additional 6,979,463 shares during the period. TD Waterhouse Canada Inc. raised its holdings in Garrett Motion by 9.3% during the second quarter. TD Waterhouse Canada Inc. now owns 36,044 shares of the company’s stock valued at $1,210,000 after acquiring an additional 3,057 shares during the period. Nykredit A S purchased a new position in shares of Garrett Motion in the second quarter valued at about $172,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Garrett Motion in the second quarter valued at about $13,246,000. 86.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

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.