Garrett Motion (NYSE:GTX) Price Target Raised to $21.00

Garrett Motion (NYSE:GTX) had its price target boosted by Stifel Nicolaus from $20.00 to $21.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on Garrett Motion in a report on Monday, October 20th. They issued a “hold” rating and a $14.00 price target for the company. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, BWS Financial boosted their target price on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $18.80.

Garrett Motion Trading Up 2.9%

NYSE GTX opened at $17.27 on Tuesday. The firm’s fifty day simple moving average is $16.04 and its two-hundred day simple moving average is $13.50. The firm has a market capitalization of $3.36 billion, a P/E ratio of 13.60 and a beta of 0.23. Garrett Motion has a 12-month low of $7.01 and a 12-month high of $17.91.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.During the same quarter last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts predict that Garrett Motion will post 1.25 earnings per share for the current fiscal year.

Garrett Motion announced that its Board of Directors has initiated a share buyback program on Wednesday, December 3rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Garrett Motion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.08 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.9%. This is an increase from Garrett Motion’s previous quarterly dividend of $0.06. Garrett Motion’s dividend payout ratio (DPR) is presently 20.38%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of Garrett Motion during the 1st quarter worth about $42,000. Tower Research Capital LLC TRC acquired a new position in Garrett Motion in the 2nd quarter worth about $45,000. Amalgamated Bank acquired a new position in Garrett Motion in the 2nd quarter worth about $46,000. Caitong International Asset Management Co. Ltd boosted its position in Garrett Motion by 4,655.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock worth $47,000 after purchasing an additional 4,423 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Garrett Motion in the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.