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

Garrett Motion Inc. (NASDAQ:GTX) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $37.00.

Several equities research analysts have issued reports on GTX shares. Wall Street Zen downgraded Garrett Motion from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Freedom Broker upgraded Garrett Motion from a “hold” rating to a “buy” rating and reduced their price target for the company from $34.00 to $31.00 in a research report on Friday, October 30th. Weiss Ratings lowered Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $36.00 in a research note on Thursday, July 30th. Finally, Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total value of $801,000.00. Following the completion of the transaction, the senior vice president owned 133,783 shares of the company’s stock, valued at $3,572,006.10. The trade was a 18.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Hedge funds have recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP bought a new position in Garrett Motion during the 3rd quarter worth approximately $34,000. Allspring Global Investments Holdings LLC lifted its position in Garrett Motion by 25.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,635,467 shares of the company’s stock valued at $42,931,000 after purchasing an additional 331,995 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Garrett Motion in the third quarter valued at approximately $279,000. Signature Equity Partners LLC bought a new stake in Garrett Motion in the third quarter valued at approximately $35,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Garrett Motion by 202.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 38,725 shares of the company’s stock valued at $1,008,000 after purchasing an additional 25,925 shares during the period. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 2.1%

Shares of GTX stock opened at $19.36 on Friday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95. Garrett Motion has a 52 week low of $15.54 and a 52 week high of $36.25. The firm has a 50 day moving average of $25.03 and a 200-day moving average of $25.36.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Thursday, October 29th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $930.00 million during the quarter. Garrett Motion had a negative return on equity of 52.43% and a net margin of 9.97%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Analysts anticipate that Garrett Motion will post 1.88 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, December 1st. Garrett Motion’s payout ratio is presently 16.41%.

Garrett Motion Company Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.