Garrett Motion Inc. (NASDAQ:GTX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Garrett Motion Inc. (NASDAQ:GTX) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $38.60.

GTX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $36.00 in a report on Thursday, July 30th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings restated a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Stifel Nicolaus upped their price objective on Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. increased their price objective on Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 10th.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $27.49 on Thursday. The business has a 50-day moving average of $29.65 and a 200 day moving average of $26.72. Garrett Motion has a 12 month low of $12.26 and a 12 month high of $36.25. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.72 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. Equities research analysts anticipate that Garrett Motion will post 1.91 earnings per share for the current year.

Garrett Motion Dividend Announcement

The business 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 dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion’s dividend payout ratio is 17.58%.

Insider Transactions at Garrett Motion

In related news, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total transaction of $537,800.00. Following the sale, the senior vice president directly owned 113,783 shares in the company, valued at approximately $3,059,624.87. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Rodrigues sold 6,140 shares of the firm’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 transaction of $204,462.00. Following the completion of the sale, the senior vice president directly owned 77,038 shares in the company, valued at approximately $2,565,365.40. This trade 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. Insiders sold a total of 66,656 shares of company stock worth $1,898,913 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors have recently modified their holdings of GTX. BlackRock Inc. purchased a new position in Garrett Motion in the second quarter valued at $461,794,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Garrett Motion during the 4th quarter worth about $180,383,000. California State Teachers Retirement System lifted its stake in Garrett Motion by 3,445.7% during the second quarter. California State Teachers Retirement System now owns 7,182,018 shares of the company’s stock worth $260,205,000 after purchasing an additional 6,979,463 shares during the last quarter. LSV Asset Management boosted its holdings in Garrett Motion by 45.8% in the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after purchasing an additional 1,958,808 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Garrett Motion by 170.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after purchasing an additional 3,241,952 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

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.