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

Garrett Motion Inc. (NASDAQ:GTX) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $38.60.

Several research firms have recently weighed in on GTX. Weiss Ratings reissued a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft upgraded 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 research report on Thursday, July 30th. BWS Financial reissued a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research note on Thursday, July 30th. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their target price on Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th.

Insider Activity

In other news, SVP Daniel Deiro sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $26.70, for a total transaction of $801,000.00. Following the completion of the sale, the senior vice president owned 133,783 shares in the company, valued at $3,572,006.10. This trade represents a 18.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Rodrigues sold 10,516 shares of Garrett Motion stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $33.82, for a total transaction of $355,651.12. Following the sale, the senior vice president directly owned 83,178 shares in the company, valued at approximately $2,813,079.96. The trade was a 11.22% 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. Insiders sold a total of 66,656 shares of company stock worth $1,898,913 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Garrett Motion

Hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Garrett Motion by 54.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,397 shares of the company’s stock worth $14,434,000 after acquiring an additional 140,254 shares during the last quarter. Castleark Management LLC purchased a new position in shares of Garrett Motion during the 2nd quarter worth approximately $17,009,000. Smead Capital Management Inc. acquired a new stake in Garrett Motion in the 4th quarter valued at approximately $4,257,000. JB Capital Partners LP acquired a new stake in Garrett Motion in the 2nd quarter valued at approximately $3,296,930. Finally, State of Wyoming purchased a new stake in Garrett Motion in the second quarter valued at approximately $2,430,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Price Performance

Garrett Motion stock opened at $27.49 on Thursday. The stock has a market capitalization of $5.13 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.72 and a beta of 0.79. The business has a 50 day simple moving average of $29.65 and a 200-day simple moving average of $26.72. Garrett Motion has a 12 month low of $12.26 and a 12 month high of $36.25.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data 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 business had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, equities research analysts anticipate that Garrett Motion will post 1.91 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

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