Garrett Motion (NASDAQ:GTX) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion (NASDAQ:GTX) from a hold rating to a buy rating in a research note published on Thursday, Marketbeat Ratings reports. The brokerage currently has $36.00 price target on the stock, up from their prior price target of $33.00.

A number of other equities analysts have also weighed in on GTX. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Freedom Capital lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their price target on Garrett Motion from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Finally, BWS Financial reaffirmed a “buy” rating and set a $42.00 price target on shares of Garrett Motion in a report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $31.15 on Thursday. The stock has a market capitalization of $5.81 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 0.92 and a beta of 0.78. Garrett Motion has a 52-week low of $12.26 and a 52-week high of $36.25. The company has a 50-day simple moving average of $32.66 and a two-hundred day simple moving average of $24.88.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Wednesday, July 29th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The firm had revenue of $976.00 million for the quarter. During the same quarter in the prior year, the company posted $0.42 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Garrett Motion will post 1.86 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Garrett Motion’s dividend payout ratio is 17.58%.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 6,140 shares of Garrett Motion stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the sale, the senior vice president owned 77,038 shares of the company’s stock, valued at approximately $2,565,365.40. The trade was a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 on Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the sale, the chief financial officer owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. This represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 213,834 shares of company stock worth $6,918,710. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Garrett Motion

Large investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new position in Garrett Motion in the fourth quarter valued at about $180,383,000. LSV Asset Management grew its stake in shares of Garrett Motion by 45.8% during the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock valued at $108,683,000 after purchasing an additional 1,958,808 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Garrett Motion by 170.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after purchasing an additional 3,241,952 shares during the period. Marshall Wace LLP increased its position in shares of Garrett Motion by 85.9% during the 4th quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock valued at $77,968,000 after purchasing an additional 2,067,264 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Garrett Motion by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 4,424,546 shares of the company’s stock valued at $77,120,000 after purchasing an additional 234,735 shares during the last quarter. Institutional investors 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.