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

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

Several research analysts have recently issued reports 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Stifel Nicolaus upped their price target on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th.

Garrett Motion Stock Up 3.3%

Shares of GTX opened at $32.36 on Wednesday. The stock has a market cap of $6.06 billion, a PE ratio of 18.92, a PEG ratio of 0.92 and a beta of 0.78. Garrett Motion has a 12-month low of $11.43 and a 12-month high of $36.25. The business has a 50-day simple moving average of $32.76 and a two-hundred day simple moving average of $24.20.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion’s revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts expect that Garrett Motion will post 1.82 EPS for the current year.

Garrett Motion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s payout ratio is presently 18.71%.

Insider Buying and Selling

In other news, SVP Mark Albert Rodrigues sold 6,140 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total transaction of $204,462.00. Following the completion of the transaction, the senior vice president directly owned 77,038 shares in the company, valued at $2,565,365.40. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of Garrett Motion stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the transaction, the senior vice president directly owned 147,956 shares in the company, valued at approximately $4,882,548. This represents a 32.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 213,834 shares of company stock worth $6,918,710. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GTX. Convergence Investment Partners LLC increased its stake in Garrett Motion by 0.9% during the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after purchasing an additional 423 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Garrett Motion by 22.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after buying an additional 629 shares during the last quarter. Baron Wealth Management LLC lifted its stake in shares of Garrett Motion by 3.3% in the first quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after buying an additional 878 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Garrett Motion by 2.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock valued at $707,000 after buying an additional 995 shares during the last quarter. 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.