Garrett Motion (NYSE:GTX) Rating Increased to Strong-Buy at Freedom Capital

Freedom Capital upgraded shares of Garrett Motion (NYSE:GTX) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 target price for the company. BWS Financial lifted their target price on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Stifel Nicolaus lifted their target price on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Garrett Motion Stock Performance

Shares of GTX stock traded up $0.82 during midday trading on Monday, hitting $18.92. 369,308 shares of the company were exchanged, compared to its average volume of 2,384,692. The firm has a market capitalization of $3.59 billion, a P/E ratio of 14.93 and a beta of 0.44. The firm’s 50 day moving average price is $18.80 and its two-hundred day moving average price is $17.15. Garrett Motion has a 52 week low of $7.84 and a 52 week high of $21.42.

Garrett Motion (NYSE:GTX) last announced its earnings results on Thursday, February 19th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts expect that Garrett Motion will post 1.25 EPS for the current year.

Garrett Motion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.08 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.32 annualized dividend and a yield of 1.7%. Garrett Motion’s payout ratio is 21.05%.

Insiders Place Their Bets

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the completion of the sale, the senior vice president owned 160,994 shares in the company, valued at $3,266,568.26. The trade was a 11.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Rabiller sold 144,000 shares of Garrett Motion stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the sale, the chief executive officer owned 905,546 shares of the company’s stock, valued at $18,400,694.72. This trade represents a 13.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 337,000 shares of company stock worth $6,839,290 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Garrett Motion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. raised its stake in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after purchasing an additional 1,422 shares in the last quarter. Spire Wealth Management raised its stake in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after buying an additional 1,593 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Garrett Motion by 361.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock valued at $49,000 after buying an additional 2,210 shares in the last quarter. Institutional investors and hedge funds 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.