Garrett Motion (NASDAQ:GTX) Reaches New 52-Week High – Should You Buy?

Garrett Motion Inc. (NASDAQ:GTX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $35.18 and last traded at $34.85, with a volume of 71858 shares changing hands. The stock had previously closed at $34.32.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Stifel Nicolaus boosted their price target on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. BWS Financial upped their price target on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.83.

Garrett Motion Trading Up 2.1%

The stock has a fifty day moving average of $28.12 and a 200-day moving average of $21.75. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.08 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that Garrett Motion Inc. will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Garrett Motion’s dividend payout ratio is currently 18.71%.

Insiders Place Their Bets

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the completion of the transaction, the director owned 124,885 shares in the company, valued at $3,898,909.70. This trade represents a 12.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the sale, the senior vice president directly owned 147,956 shares in the company, valued at approximately $4,882,548. The trade was a 32.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 207,694 shares of company stock valued at $6,714,248. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Garrett Motion

Several hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. boosted its holdings in Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after acquiring an additional 1,422 shares during the last quarter. Spire Wealth Management raised its holdings in Garrett Motion by 971.2% during 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 during the last quarter. Global Retirement Partners LLC lifted its position in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after purchasing an additional 970 shares during the period. TD Waterhouse Canada Inc. lifted its position in Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after purchasing an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in Garrett Motion during the 1st quarter valued at about $42,000. 86.27% of the stock is owned by institutional investors.

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.