Sean Deason Sells 110,000 Shares of Garrett Motion (NASDAQ:GTX) Stock

Garrett Motion Inc. (NASDAQ:GTX) CFO Sean Deason sold 110,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the sale, the chief financial officer owned 261,909 shares of the company’s stock, valued at $8,362,754.37. The trade was a 29.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Stock Performance

Shares of GTX opened at $32.81 on Wednesday. Garrett Motion Inc. has a one year low of $9.57 and a one year high of $34.34. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.01 and a beta of 0.79. The stock has a 50 day moving average price of $25.65 and a 200 day moving average price of $20.77.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Garrett Motion’s payout ratio is presently 18.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GTX. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their target price on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Freedom Capital cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, BWS Financial upped their target price on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Garrett Motion currently has an average rating of “Moderate Buy” and a consensus price target of $31.83.

Hedge Funds Weigh In On Garrett Motion

A number of hedge funds have recently modified their holdings of the business. Convergence Investment Partners LLC grew its holdings in shares of Garrett Motion by 0.9% during the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock worth $835,000 after purchasing an additional 423 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Garrett Motion by 22.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after purchasing an additional 629 shares during the period. Baron Wealth Management LLC grew its holdings in shares of Garrett Motion by 3.3% during the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock worth $496,000 after purchasing an additional 878 shares during the period. Global Retirement Partners LLC grew its holdings in shares of 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 purchasing an additional 970 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Garrett Motion by 2.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock worth $707,000 after purchasing an additional 995 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Company Profile

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.