Insider Selling: Garrett Motion (NASDAQ:GTX) SVP Sells $204,462.00 in Stock

Garrett Motion Inc. (NASDAQ:GTX) SVP Mark Albert Rodrigues sold 6,140 shares of Garrett Motion stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the sale, the senior vice president directly owned 77,038 shares in the company, valued at approximately $2,565,365.40. This represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Albert Rodrigues also recently made the following trade(s):

• On Friday, June 12th, Mark Albert Rodrigues sold 10,516 shares of Garrett Motion stock. The stock was sold at an average price of $33.82, for a total transaction of $355,651.12.

Garrett Motion Price Performance

Garrett Motion stock opened at $35.11 on Monday. The firm has a 50-day moving average of $29.63 and a 200-day moving average of $22.37. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.10 and a beta of 0.79. Garrett Motion Inc. has a one year low of $10.23 and a one year high of $35.41.

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

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion’s dividend payout ratio is currently 18.71%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus increased their target price on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research report on Thursday, May 21st. Finally, Weiss Ratings started coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.83.

Institutional Trading of Garrett Motion

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its holdings 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 during the last quarter. Spire Wealth Management raised its stake in Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after buying an additional 1,350 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares during the period. TD Waterhouse Canada Inc. grew its holdings in Garrett Motion by 1,422.3% during 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 during the period. Finally, Jones Financial Companies Lllp bought a new position in shares of Garrett Motion in the 1st quarter worth about $42,000. 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.