Garrett Motion Inc. (NASDAQ:GTX) Receives $38.60 Average PT from Analysts

Shares of Garrett Motion Inc. (NASDAQ:GTX) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $38.60.

Several analysts have recently commented on GTX shares. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a report on Thursday, May 21st. Wall Street Zen cut Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $36.00 in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th.

Garrett Motion Price Performance

NASDAQ:GTX opened at $26.62 on Friday. The firm’s fifty day moving average price is $31.55 and its 200 day moving average price is $26.00. Garrett Motion has a 1-year low of $12.26 and a 1-year high of $36.25. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.82.

Garrett Motion (NASDAQ:GTX) last released its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company had revenue of $976.00 million during the quarter. During the same quarter last year, the business posted $0.42 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, analysts expect that Garrett Motion will post 1.91 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s payout ratio is presently 17.58%.

Insider Buying and Selling at Garrett Motion

In other news, SVP Mark Albert Rodrigues sold 6,140 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the sale, the senior vice president directly owned 77,038 shares in the company, valued at $2,565,365.40. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the transaction, the chief financial officer owned 261,909 shares in the company, valued at approximately $8,362,754.37. This trade represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 196,656 shares of company stock valued at $6,382,413 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

A number of hedge funds have recently made changes to their positions in GTX. Persistent Asset Partners Ltd purchased a new position in shares of Garrett Motion in the 2nd quarter worth about $27,000. Cullen Frost Bankers Inc. raised its stake in shares of Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after purchasing an additional 1,422 shares during the period. Global Retirement Partners LLC boosted its position in Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after acquiring an additional 1,593 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Garrett Motion during the 2nd quarter valued at approximately $64,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.