Garrett Motion Inc. (NASDAQ:GTX) Stock Has Average Price Target of $38.20 According to Brokerages

Garrett Motion Inc. (NASDAQ:GTX) has earned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.20.

Several equities analysts have recently issued reports on GTX shares. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 8th. Weiss Ratings restated a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Wall Street Zen cut Garrett Motion from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Finally, JPMorgan Chase & Co. cut their target price on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 15th.

Insider Activity at Garrett Motion

In other news, SVP Daniel Deiro sold 30,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the transaction, the senior vice president directly owned 133,783 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently modified their holdings of the stock. Convergence Investment Partners LLC grew its holdings in Garrett Motion by 0.9% during the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock worth $835,000 after acquiring an additional 423 shares during the period. Farther Finance Advisors LLC raised its position in Garrett Motion by 39.6% in the third quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after acquiring an additional 476 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Garrett Motion by 22.3% in the 1st 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. Persistent Asset Partners Ltd acquired a new stake in Garrett Motion in the 2nd quarter valued at about $27,000. Finally, Baron Wealth Management LLC lifted its holdings in Garrett Motion by 3.3% in the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after acquiring an additional 878 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Price Performance

Garrett Motion stock opened at $26.24 on Monday. The firm has a 50-day moving average price of $27.29 and a two-hundred day moving average price of $27.89. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.67 and a beta of 0.83. Garrett Motion has a 52-week low of $12.26 and a 52-week high of $36.25.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm had revenue of $976.00 million during the quarter. During the same quarter last year, the company posted $0.42 EPS. Garrett Motion’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts expect that Garrett Motion will post 1.92 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Garrett Motion’s dividend payout ratio is presently 17.58%.

Garrett Motion Company Profile

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.