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

Garrett Motion Inc. (NASDAQ:GTX) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $38.20.

Several research analysts recently weighed in on GTX shares. JPMorgan Chase & Co. decreased their price objective on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $36.00 in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Garrett Motion from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Finally, BWS Financial restated a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, July 30th.

Insider Activity

In other news, SVP Daniel Deiro sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was 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 directly owned 133,783 shares in the company, valued at approximately $3,572,006.10. This represents a 18.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Garrett Motion in the second quarter worth approximately $461,794,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after acquiring an additional 3,241,952 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Garrett Motion by 10.9% in the 4th quarter. Geode Capital Management LLC now owns 3,881,043 shares of the company’s stock worth $67,655,000 after acquiring an additional 380,729 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Garrett Motion by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,504,855 shares of the company’s stock worth $63,677,000 after acquiring an additional 237,508 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Garrett Motion in the 2nd quarter valued at $117,127,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Garrett Motion Stock Performance

NASDAQ:GTX opened at $25.87 on Monday. Garrett Motion has a 52-week low of $12.26 and a 52-week high of $36.25. The stock has a fifty day moving average of $27.49 and a 200 day moving average of $27.77. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 0.67 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX) last announced its earnings results on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The business had revenue of $976.00 million for the quarter. During the same quarter in the prior year, the company earned $0.42 earnings per share. Garrett Motion’s revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Garrett Motion will post 1.92 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.2%. Garrett Motion’s payout ratio is 17.58%.

About Garrett Motion

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.