Garrett Motion (NYSE:GTX) Reaches New 52-Week High – Time to Buy?

Garrett Motion Inc. (NYSE:GTX) hit a new 52-week high during trading on Wednesday . The company traded as high as $17.65 and last traded at $17.4810, with a volume of 1485234 shares trading hands. The stock had previously closed at $17.15.

Analysts Set New Price Targets

A number of brokerages recently commented on GTX. Stifel Nicolaus set a $20.00 target price on Garrett Motion in a research note on Friday, October 24th. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. BNP Paribas started coverage on Garrett Motion in a research note on Wednesday, July 16th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft started coverage on Garrett Motion in a research note on Monday, October 20th. They set a “hold” rating and a $14.00 price objective for the company. Finally, BWS Financial reiterated a “buy” rating and set a $18.00 price objective on shares of Garrett Motion in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $16.50.

Garrett Motion Stock Up 2.0%

The firm has a fifty day moving average of $13.84 and a 200-day moving average of $12.18. The firm has a market cap of $3.40 billion, a P/E ratio of 13.79 and a beta of 0.37.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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%.The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. Garrett Motion has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Garrett Motion Inc. will post 1.25 EPS for the current year.

Garrett Motion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, December 1st. This is an increase from Garrett Motion’s previous quarterly dividend of $0.06. Garrett Motion’s dividend payout ratio is presently 20.38%.

Insider Activity

In other news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the completion of the transaction, the insider directly owned 4,740,569 shares in the company, valued at approximately $58,166,781.63. The trade was a 65.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $13.00, for a total value of $16,900,000.00. Following the sale, the insider directly owned 21,128,348 shares in the company, valued at approximately $274,668,524. This represents a 5.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,418,403 shares of company stock valued at $142,169,564 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in shares of Garrett Motion during the 2nd quarter worth approximately $45,000. Amalgamated Bank acquired a new position in shares of Garrett Motion during the 2nd quarter worth approximately $46,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Garrett Motion by 4,655.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock worth $47,000 after acquiring an additional 4,423 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the 1st quarter worth approximately $42,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Garrett Motion during the second quarter worth $61,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.