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

Garrett Motion Inc. (NASDAQ:GTX) SVP Thierry Mabru sold 70,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were 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 owned 147,956 shares of the company’s stock, valued at $4,882,548. This trade represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Garrett Motion Price Performance

NASDAQ GTX opened at $31.58 on Wednesday. Garrett Motion Inc. has a 12 month low of $9.57 and a 12 month high of $34.34. The firm has a market capitalization of $5.91 billion, a PE ratio of 18.47, a P/E/G ratio of 1.04 and a beta of 0.79. The company’s 50 day simple moving average is $23.93 and its 200 day simple moving average is $20.11.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $917.23 million. The firm’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Garrett Motion’s payout ratio is presently 18.71%.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. lifted its position in shares of Garrett Motion by 7,110.0% in the fourth 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 in the last quarter. Spire Wealth Management lifted its position in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after buying an additional 1,350 shares in the last quarter. Global Retirement Partners LLC boosted its stake 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 valued at $28,000 after buying an additional 970 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Garrett Motion by 1,422.3% in the fourth 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 last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion during the first quarter worth $42,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GTX shares. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. Weiss Ratings started coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. JPMorgan Chase & Co. increased their price objective on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. BWS Financial lifted their target price on Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Royal Bank Of Canada set a $42.00 target price on Garrett Motion in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Garrett Motion has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.

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.