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

Garrett Motion Inc. (NASDAQ:GTX) has received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong 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 $31.8333.

Several brokerages have recently issued reports on GTX. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a research note on Friday, May 1st. BWS Financial raised their price objective on shares of Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Weiss Ratings began coverage on shares of Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. Finally, Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th.

Insider Activity

In other news, SVP Mark Albert Rodrigues sold 6,140 shares of the firm’s stock in a transaction 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 approximately $2,565,365.40. This trade represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the sale, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. The trade was a 32.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 213,834 shares of company stock valued at $6,918,710 over the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. purchased a new stake in Garrett Motion during the fourth quarter worth approximately $180,383,000. William Blair Investment Management LLC lifted its stake in Garrett Motion by 51.0% during the third quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after purchasing an additional 2,605,296 shares during the last quarter. LSV Asset Management lifted its stake in Garrett Motion by 45.8% during the fourth quarter. LSV Asset Management now owns 6,235,408 shares of the company’s stock worth $108,683,000 after purchasing an additional 1,958,808 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in 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 purchasing an additional 3,241,952 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Garrett Motion by 85.9% during the fourth quarter. Marshall Wace LLP now owns 4,473,196 shares of the company’s stock worth $77,968,000 after purchasing an additional 2,067,264 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $35.11 on Friday. The business has a 50-day moving average of $29.63 and a 200 day moving average of $22.33. Garrett Motion has a 12 month low of $10.23 and a 12 month high of $35.41. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The business had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The company’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Garrett Motion will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, June 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

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.