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

Shares of Garrett Motion Inc. (NASDAQ:GTX) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $22.80.

GTX has been the subject of a number of recent analyst reports. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. BWS Financial increased their target price on shares of Garrett Motion from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings initiated coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They issued a “buy (b)” rating for the company.

Garrett Motion Stock Performance

Garrett Motion stock opened at $29.57 on Friday. The company has a 50 day moving average price of $20.05 and a 200 day moving average price of $18.62. Garrett Motion has a 52 week low of $9.57 and a 52 week high of $29.89. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 0.97 and a beta of 0.70.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities analysts forecast that Garrett Motion will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Garrett Motion’s dividend payout ratio is presently 18.71%.

Insiders Place Their Bets

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the sale, the chief executive officer owned 905,546 shares in the company, valued at $18,400,694.72. This represents a 13.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total transaction of $405,800.00. Following the completion of the sale, the senior vice president owned 160,994 shares of the company’s stock, valued at approximately $3,266,568.26. The trade was a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 337,000 shares of company stock worth $6,839,290 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. bought a new position in shares of Garrett Motion during the 4th quarter valued at $180,383,000. William Blair Investment Management LLC boosted its holdings in Garrett Motion by 51.0% in the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after purchasing an additional 2,605,296 shares in 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 worth $108,683,000 after purchasing an additional 1,958,808 shares in the last quarter. 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 worth $89,580,000 after purchasing an additional 3,241,952 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Garrett Motion by 85.9% in the fourth quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock worth $77,968,000 after purchasing an additional 2,067,264 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.