Garrett Motion Inc. (NYSE:GTX) Receives $18.80 Average PT from Analysts

Shares of Garrett Motion Inc. (NYSE:GTX) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $18.80.

Several analysts have recently issued reports on the company. Freedom Capital upgraded Garrett Motion to a “strong-buy” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. assumed coverage on Garrett Motion in a research report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price objective on the stock. BWS Financial restated a “buy” rating and issued a $22.00 price objective on shares of Garrett Motion in a research report on Thursday, April 9th. Finally, Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th.

Insider Activity

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 905,546 shares of the company’s stock, valued at $18,400,694.72. This represents a 13.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the transaction, the senior vice president directly owned 160,994 shares in the company, valued at approximately $3,266,568.26. This represents a 11.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 337,000 shares of company stock worth $6,839,290 over the last three months. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Garrett Motion

Large investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its stake in Garrett Motion by 7,110.0% during the fourth 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 during the period. Spire Wealth Management raised its stake in Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the period. Global Retirement Partners LLC raised its stake in Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in Garrett Motion during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Down 1.2%

Garrett Motion stock opened at $19.03 on Monday. Garrett Motion has a 52 week low of $8.77 and a 52 week high of $21.42. The firm’s 50-day simple moving average is $18.93 and its 200 day simple moving average is $17.36. The firm has a market capitalization of $3.62 billion, a PE ratio of 14.98 and a beta of 0.44.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.Garrett Motion’s revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Garrett Motion will post 1.25 EPS for the current fiscal year.

Garrett Motion Announces Dividend

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

Garrett Motion Company Profile

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.