Garrett Motion Inc. (NASDAQ:GTX) Receives Average Rating of “Moderate Buy” from Brokerages

Garrett Motion Inc. (NASDAQ:GTX) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $38.60.

Several brokerages recently issued reports on GTX. Stifel Nicolaus increased their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $36.00 in a research note on Thursday, July 30th.

Garrett Motion Stock Performance

Garrett Motion stock opened at $29.00 on Friday. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.74 and a beta of 0.82. Garrett Motion has a 52-week low of $12.26 and a 52-week high of $36.25. The stock’s 50 day moving average price is $32.10 and its two-hundred day moving average price is $25.68.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts forecast that Garrett Motion will post 1.91 EPS for the current year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.1%. Garrett Motion’s dividend payout ratio is presently 17.58%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the completion of the sale, the chief financial officer owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the sale, the senior vice president owned 77,038 shares of the company’s stock, valued at approximately $2,565,365.40. This represents a 7.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 196,656 shares of company stock valued at $6,382,413. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Garrett Motion

A number of hedge funds and other institutional investors have recently bought and sold shares of GTX. Comerica Bank raised its holdings in shares of Garrett Motion by 22.0% in the fourth quarter. Comerica Bank now owns 251,371 shares of the company’s stock valued at $4,381,000 after purchasing an additional 45,370 shares during the last quarter. Wesbanco Bank Inc. lifted its position in shares of Garrett Motion by 75.0% during the fourth quarter. Wesbanco Bank Inc. now owns 105,034 shares of the company’s stock valued at $1,831,000 after purchasing an additional 45,000 shares in the last quarter. Smead Capital Management Inc. purchased a new position in Garrett Motion during the fourth quarter worth about $4,257,000. Carmel Capital Management L.L.C. purchased a new position in Garrett Motion during the first quarter worth about $5,719,000. Finally, Norges Bank purchased a new position in Garrett Motion during the fourth quarter worth about $29,237,000. Institutional investors own 86.27% of the company’s stock.

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.