Garrett Motion Inc. (NASDAQ:GTX – Get Free Report) Director Daniel Ninivaggi sold 17,178 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the transaction, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. The trade was a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Garrett Motion Stock Performance
Shares of NASDAQ GTX traded down $0.89 during midday trading on Friday, hitting $30.98. The company’s stock had a trading volume of 2,022,539 shares, compared to its average volume of 3,101,842. Garrett Motion Inc. has a 1-year low of $9.57 and a 1-year high of $32.44. The firm’s fifty day moving average price is $20.76 and its 200-day moving average price is $18.93. The firm has a market cap of $5.80 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.06 and a beta of 0.70.
Garrett Motion (NASDAQ:GTX – Get Free Report) last released its quarterly earnings data 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. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts predict that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.
Garrett Motion Announces Dividend
Hedge Funds Weigh In On Garrett Motion
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. increased its position in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after acquiring an additional 1,422 shares during the period. Spire Wealth Management grew its stake in shares of Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in Garrett Motion during the 1st quarter valued at about $42,000. 86.27% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GTX has been the subject of a number of analyst reports. BWS Financial boosted their price objective on Garrett Motion from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. 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. Finally, Stifel Nicolaus increased their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.80.
Check Out Our Latest Research Report on GTX
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.
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