Garrett Motion’s (GTX) “Buy” Rating Reiterated at BWS Financial

BWS Financial reissued their buy rating on shares of Garrett Motion (NASDAQ:GTX) in a research report report published on Thursday,Benzinga reports. They currently have a $42.00 price target on the stock.

GTX has been the subject of a number of other reports. Wall Street Zen downgraded Garrett Motion from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and lifted their target price for the company from $33.00 to $36.00 in a report on Thursday, July 30th. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $38.20.

Garrett Motion Stock Performance

Shares of GTX opened at $26.24 on Thursday. The business’s 50-day moving average is $27.29 and its two-hundred day moving average is $27.82. The company has a market capitalization of $4.89 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.67 and a beta of 0.83. Garrett Motion has a fifty-two week low of $12.26 and a fifty-two week high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%. The business had revenue of $976.00 million during the quarter. During the same period last year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Garrett Motion will post 1.92 EPS for the current year.

Garrett Motion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 17.58%.

Insider Transactions at Garrett Motion

In other news, SVP Daniel Deiro sold 30,000 shares of Garrett Motion stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total value of $801,000.00. Following the sale, the senior vice president owned 133,783 shares in the company, valued at $3,572,006.10. This trade represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Persistent Asset Partners Ltd purchased a new position in Garrett Motion in the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC increased its stake in Garrett Motion by 39.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after buying an additional 476 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Garrett Motion during the 1st quarter worth approximately $60,000. PNC Financial Services Group Inc. raised its holdings in shares of Garrett Motion by 22.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after acquiring an additional 629 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Garrett Motion during the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.