Garrett Motion Inc. (NASDAQ:GTX) Receives $35.40 Average PT from Analysts

Shares of Garrett Motion Inc. (NASDAQ:GTX) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $35.40.

A number of analysts have recently commented on the company. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen cut Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. 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, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st.

Garrett Motion Price Performance

NASDAQ GTX opened at $29.92 on Wednesday. The company has a market capitalization of $5.60 billion, a PE ratio of 17.50, a P/E/G ratio of 0.91 and a beta of 0.78. The company has a fifty day moving average of $32.78 and a 200 day moving average of $24.67. Garrett Motion has a 1 year low of $12.26 and a 1 year high of $36.25.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.Garrett Motion’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts expect that Garrett Motion will post 1.81 earnings per share for the current year.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. Garrett Motion’s payout ratio is 18.71%.

Insider Activity at Garrett Motion

In other news, SVP Thierry Mabru sold 70,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the sale, the senior vice president owned 147,956 shares of the company’s stock, valued at $4,882,548. The trade was a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the business’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 sale, the chief financial officer owned 261,909 shares of the company’s stock, valued at $8,362,754.37. The trade was a 29.58% decrease in their ownership of the stock. 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 213,834 shares of company stock worth $6,918,710 in the last quarter. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. raised its holdings in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares during the period. Spire Wealth Management lifted its stake in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 970 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after acquiring an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in Garrett Motion in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.