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

by · The Markets Daily

Garrett Motion Inc. (NASDAQ:GTX – Get Free Report) SVP Thierry Mabru sold 70,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the transaction, the senior vice president directly owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. This represents a 32.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Trading Down 4.7%

Shares of NASDAQ GTX traded down $1.55 during midday trading on Monday, reaching $31.21. The company had a trading volume of 3,454,597 shares, compared to its average volume of 3,118,214. The business’s 50-day simple moving average is $23.93 and its 200 day simple moving average is $20.11. 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 0.79. Garrett Motion Inc. has a 1 year low of $9.57 and a 1 year high of $34.34.

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

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors 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 of this dividend is Monday, June 1st. Garrett Motion’s dividend payout ratio (DPR) is 18.71%.

Institutional Trading of Garrett Motion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Garrett Motion during the fourth quarter valued at $180,383,000. William Blair Investment Management LLC grew its position in Garrett Motion by 51.0% during the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock valued at $105,090,000 after buying an additional 2,605,296 shares during the period. LSV Asset Management grew its position in Garrett Motion by 45.8% during the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after buying an additional 1,958,808 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after buying an additional 3,241,952 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Garrett Motion by 85.9% in the fourth quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock valued at $77,968,000 after purchasing an additional 2,067,264 shares during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

GTX has been the subject of several recent research reports. Stifel Nicolaus raised their target price on shares of 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 target price on shares of Garrett Motion in a report on Thursday, May 21st. BWS Financial raised their target price on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, Weiss Ratings initiated coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Garrett Motion presently has an average rating of “Moderate Buy” and a consensus target price of $31.83.

Read Our Latest Research Report on Garrett Motion

Garrett Motion Company Profile

(Get Free Report)

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.

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