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

Shares of Garrett Motion Inc. (NASDAQ:GTX) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $31.8333.

Several analysts recently issued reports on GTX shares. JPMorgan Chase & Co. upped their price target on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Weiss Ratings started coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They set a “buy (b)” rating for the company. Royal Bank Of Canada set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, May 21st. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, BWS Financial increased their price target on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st.

Insider Transactions at Garrett Motion

In other news, SVP Thierry Mabru sold 70,000 shares of Garrett Motion stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. This trade represents a 32.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the completion of the transaction, the director owned 124,885 shares of the company’s stock, valued at approximately $3,898,909.70. The trade was a 12.09% 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. In the last 90 days, insiders sold 213,834 shares of company stock worth $6,918,710. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Garrett Motion

Several institutional investors have recently added to or reduced their stakes in GTX. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $180,383,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after buying an additional 3,241,952 shares during the period. Merewether Investment Management LP acquired a new position in shares of Garrett Motion during the third quarter worth approximately $40,590,000. BlueCrest Capital Management Ltd bought a new position in Garrett Motion in the 3rd quarter worth approximately $36,539,000. Finally, William Blair Investment Management LLC grew its holdings in Garrett Motion by 51.0% in the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after buying an additional 2,605,296 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

GTX stock opened at $31.75 on Friday. Garrett Motion has a 52-week low of $10.71 and a 52-week high of $36.25. The stock’s 50 day moving average is $31.01 and its two-hundred day moving average is $22.92. The company has a market capitalization of $5.94 billion, a PE ratio of 18.57, a P/E/G ratio of 1.00 and a beta of 0.78.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Friday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Garrett Motion will post 1.83 EPS for the current year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.08 per share. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 1.0%. Garrett Motion’s dividend payout ratio is presently 18.71%.

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.