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

Shares of Garrett Motion Inc. (NYSE:GTX) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $18.80.

Several research analysts have recently weighed in on GTX shares. Stifel Nicolaus increased their price objective 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. BWS Financial increased their price target 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. JPMorgan Chase & Co. started coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target on the stock. Finally, Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th.

Institutional Trading of Garrett Motion

A number of institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. increased its position in Garrett Motion by 7,110.0% during 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 grew 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 buying an additional 1,350 shares during the period. Global Retirement Partners LLC increased its position in shares of Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake 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 acquiring an additional 1,593 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Stock Performance

Shares of GTX opened at $20.27 on Friday. Garrett Motion has a fifty-two week low of $7.01 and a fifty-two week high of $21.42. The company has a market capitalization of $3.85 billion, a PE ratio of 15.96 and a beta of 0.33. The stock has a fifty day moving average of $18.53 and a two-hundred day moving average of $16.03.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, February 19th. The company reported $0.42 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 for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Garrett Motion will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, March 2nd. Garrett Motion’s payout ratio is 21.05%.

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

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.