Garrett Motion (NASDAQ:GTX) SVP Thierry Mabru Sells 70,000 Shares of Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total value of $2,310,000.00. Following the transaction, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. This represents a 32.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $31.21 on Tuesday. The stock has a market cap of $5.84 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.09 and a beta of 0.70. The stock’s 50 day simple moving average is $23.93 and its 200-day simple moving average is $20.11. Garrett Motion Inc. has a 1-year low of $9.57 and a 1-year high of $34.34.

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

Garrett Motion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued 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 currently 18.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GTX shares. Freedom Capital cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a report on Thursday, May 21st. Weiss Ratings initiated coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They set a “buy (b)” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Garrett Motion in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.83.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors have recently modified their holdings of the business. Arete Wealth Advisors LLC acquired a new position in shares of Garrett Motion in the first quarter worth $224,000. Janus Henderson Group PLC grew its stake in shares of Garrett Motion by 22.2% in the first quarter. Janus Henderson Group PLC now owns 78,600 shares of the company’s stock worth $1,429,000 after acquiring an additional 14,300 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Garrett Motion by 50.2% in the first quarter. California State Teachers Retirement System now owns 202,555 shares of the company’s stock worth $3,680,000 after acquiring an additional 67,740 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Garrett Motion by 2.5% in the first quarter. The Manufacturers Life Insurance Company now owns 88,693 shares of the company’s stock worth $1,612,000 after acquiring an additional 2,198 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Garrett Motion by 25.7% in the first quarter. Quantinno Capital Management LP now owns 16,703 shares of the company’s stock worth $303,000 after acquiring an additional 3,415 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.