Olivier Rabiller Sells 144,000 Shares of Garrett Motion (NYSE:GTX) Stock

by · The Markets Daily

Garrett Motion Inc. (NYSE:GTX – Get Free Report) CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $20.32, for a total value of $2,926,080.00. Following the transaction, the chief executive officer owned 905,546 shares of the company’s stock, valued at $18,400,694.72. This trade represents a 13.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Olivier Rabiller also recently made the following trade(s):

  • On Wednesday, February 25th, Olivier Rabiller sold 143,000 shares of Garrett Motion stock. The stock was sold at an average price of $20.32, for a total value of $2,905,760.00.

Garrett Motion Stock Down 0.5%

GTX traded down $0.10 during trading hours on Friday, reaching $20.36. 3,362,113 shares of the company’s stock traded hands, compared to its average volume of 2,592,434. The firm has a 50-day moving average price of $18.73 and a 200 day moving average price of $16.15. The firm has a market capitalization of $3.87 billion, a PE ratio of 16.03 and a beta of 0.33. Garrett Motion Inc. has a 52-week low of $7.01 and a 52-week high of $21.42.

Garrett Motion (NYSE:GTX – Get Free Report) last released its earnings results on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The business’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts predict that Garrett Motion Inc. will post 1.25 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, March 2nd. Garrett Motion’s payout ratio is 21.05%.

Garrett Motion announced that its board has initiated a stock repurchase plan on Wednesday, December 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Garrett Motion

Large investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of 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 buying an additional 1,422 shares in the last quarter. Spire Wealth Management boosted its stake in Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after acquiring an additional 1,350 shares in the last quarter. Global Retirement Partners LLC boosted its stake 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 acquiring an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in 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 purchasing an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the first quarter worth $42,000. 86.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. BWS Financial lifted their target price on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Stifel Nicolaus upped their target price on Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. started coverage on Garrett Motion in a research note on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Check Out Our Latest Report on Garrett Motion

About Garrett Motion

(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.

See Also