Garrett Motion Inc. Declares Quarterly Dividend of $0.08 (NASDAQ:GTX)

Garrett Motion Inc. (NASDAQ:GTX) declared a quarterly dividend on Wednesday, July 29th. Investors of record on Tuesday, September 1st will be paid a dividend of 0.08 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 1st.

Garrett Motion Stock Down 3.8%

Shares of Garrett Motion stock opened at $28.78 on Thursday. The firm’s 50-day moving average price is $32.74 and its two-hundred day moving average price is $24.75. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.89 and a beta of 0.78. Garrett Motion has a 12-month low of $12.26 and a 12-month high of $36.25.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The business had revenue of $976.00 million during the quarter. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Garrett Motion will post 1.81 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on GTX. Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. raised their price objective on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $36.00 in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

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.