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

Shares of Garrett Motion Inc. (NASDAQ:GTX) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $38.60.

A number of research firms recently weighed in on GTX. BWS Financial restated a “buy” rating and issued a $42.00 price objective on shares of Garrett Motion in a report on Thursday, July 30th. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Wall Street Zen lowered Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, JPMorgan Chase & Co. increased their price target on Garrett Motion from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 10th.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. This trade represents a 32.12% 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. Also, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the transaction, the chief financial officer owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. The trade was a 29.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 196,656 shares of company stock valued at $6,382,413. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Garrett Motion

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Garrett Motion in the second quarter valued at $461,794,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Garrett Motion in the 4th quarter worth about $180,383,000. LSV Asset Management raised its position in shares of Garrett Motion by 45.8% in the 4th quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock worth $108,683,000 after acquiring an additional 1,958,808 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Garrett Motion by 170.9% in 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. Finally, Marshall Wace LLP lifted its stake in shares of Garrett Motion by 85.9% in 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 period. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

GTX opened at $29.00 on Friday. Garrett Motion has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.74 and a beta of 0.82. The company’s 50 day moving average price is $32.10 and its two-hundred day moving average price is $25.68.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. The firm had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. As a group, equities research analysts predict that Garrett Motion will post 1.91 EPS for the current year.

Garrett Motion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.1%. Garrett Motion’s dividend payout ratio is presently 17.58%.

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.