Garrett Motion Stocks
GARRETT MOTION (GTX) Stocks
ABOUT GARRETT MOTION
Garrett Motion, Inc. is a technology company that engineers, develops and manufactures turbochargers and related products.
Its products and services are offered to automobiles (from small cars, electric and hybrid vehicles to high performance racing cars), large trucks, construction equipment and industrial equipment, just to name a few.
The company manufactures approximately 100 new applications for gas, diesel, electric and fuel cell powertrains as well as natural gas vehicles every year and its products can be found in more than 100 million vehicles.
Garrett Motion, Inc. has more than 6 000 employees and is headquartered in Rolle, Switzerland.
HISTORY OF GARRETT MOTION
- In 1936 the Aircraft Tool and Supply Company is founded by John Clifford Garrett.
- In 1938 the company is renamed Garrett Corporation when it combines several businesses into one. The company provides environmental controls and avionics, as well as aircraft turbochargers during the Second World War. The company grows as municipalities use turbochargers in sewage purification operations during the 1950’s.
- In 1954 Garrett forms AiResearch Industrial Division as to separate its turbocharger division from the gas turbine division. In 1955 to the Caterpillar Company purchases more than 5 000 turbochargers to use in its Caterpillar D9 tractor. By now the product is also used in railroad locomotives, ships, power plants, construction machinery, automobiles and oil pipeline pumping stations. In 1963 Garrett Corporation and Signal Oil and Gas Company merges. Its name is changed to The Signal Companies.
- In 1968 it merges with Allied Corporation and is renamed Allied-Signal Inc.
- The company buys Textron’s Lycoming Turbine Engine Division in 1994.
- In 1997 General Electric buys the company’s Garrett Aviation Division. Allied-Signal and Honeywell International Inc. merges in 1999 and the company becomes Honeywell.
- In 2011 Rank Group purchases the company’s Consumer Products Group for a price of $ 950 million. During these years the company portfolio expands considerably, and it develops 15 new technologies for 100 new engines for well-known vehicles such as Mercedes, Chevrolet, BMW, Jaguar and others.
- Garrett Motion, Inc. becomes an independent company in 2018 in a corporate spin off.
- It starts trading on the New York Stock Exchange as a public company.
VISION & VALUES OF GARRETT MOTION
- Garrett Motion, Inc. is committed to operating responsibly and act with high ethical and professional standards. Employees and business partners are treated with respect and the company ensures a healthy and safe work environment.
- The company’s communities are supported, and it contributes to local projects and educational and environmental initiatives. Garrett Motion also supports an automotive design challenge for students across eight countries.
MARKET PERFORMANCE OF GARRETT MOTION
- Garrett Motion, Inc. trades on the New York Stock Exchange under the NYSE stock symbol “GTX”.
- Data analysis for the company’s quarterly period ending June 30, 2019 reports total assets of $ 2,172 million. Net income is $ 66 million and gross profit is $ 182 million. Cash and cash equivalents are $ 182 million.