Garrett Motion Inc. (NYSE:GTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Garrett Motion Inc. (NYSE:GTX) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $18.80.

Several research firms recently weighed in on GTX. 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 objective for the company. Zacks Research lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Stifel Nicolaus upped their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. started coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price objective on the stock. Finally, BWS Financial boosted their price objective on shares of Garrett Motion from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 12th.

Hedge Funds Weigh In On Garrett Motion

A number of large investors have recently added to or reduced their stakes in the company. LSV Asset Management acquired a new stake in Garrett Motion in the third quarter valued at approximately $58,247,000. Merewether Investment Management LP purchased a new stake in shares of Garrett Motion during the 3rd quarter valued at $40,590,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Garrett Motion in the 3rd quarter worth $36,539,000. William Blair Investment Management LLC grew its stake in Garrett Motion by 51.0% during 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Garrett Motion by 5,889.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,897,487 shares of the company’s stock valued at $25,844,000 after buying an additional 1,865,809 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Stock Performance

Garrett Motion stock opened at $17.83 on Friday. The company has a market capitalization of $3.47 billion, a PE ratio of 14.04 and a beta of 0.25. The company has a 50 day moving average price of $17.02 and a 200-day moving average price of $14.25. Garrett Motion has a fifty-two week low of $7.01 and a fifty-two week high of $18.18.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, topping 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%.Garrett Motion’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. On average, analysts forecast that Garrett Motion will post 1.25 earnings per share for the current year.

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

Garrett Motion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Garrett Motion’s previous quarterly dividend of $0.06. Garrett Motion’s dividend payout ratio is presently 20.38%.

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.