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

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

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of 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 raised their target price on shares of Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Stifel Nicolaus upped their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, December 16th.

Insider Activity at Garrett Motion

In other news, Director Julia Steyn sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total value of $337,620.00. Following the transaction, the director directly owned 50,233 shares in the company, valued at $997,627.38. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 905,546 shares of the company’s stock, valued at approximately $18,400,694.72. This trade represents a 13.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 337,000 shares of company stock worth $6,839,290. 0.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Garrett Motion in the fourth quarter worth $100,000. Invesco Ltd. grew its holdings in Garrett Motion by 79.2% during the 4th quarter. Invesco Ltd. now owns 492,557 shares of the company’s stock worth $8,585,000 after acquiring an additional 217,734 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Garrett Motion in the 4th quarter worth about $293,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Garrett Motion in the 4th quarter worth about $180,383,000. Finally, Empowered Funds LLC acquired a new stake in shares of Garrett Motion in the 4th quarter valued at about $1,697,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Trading Up 5.9%

GTX stock opened at $17.96 on Thursday. The company’s 50-day moving average price is $18.86 and its 200 day moving average price is $16.77. Garrett Motion has a 52 week low of $7.01 and a 52 week high of $21.42. The company has a market cap of $3.41 billion, a P/E ratio of 14.14 and a beta of 0.31.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share 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%.The firm’s revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts expect that Garrett Motion will post 1.25 earnings per share for the current year.

Garrett Motion Dividend Announcement

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 1.8%. The ex-dividend date was Monday, March 2nd. Garrett Motion’s dividend payout ratio is currently 21.05%.

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

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.