Garrett Motion Inc. (NASDAQ:GTX) Declares Quarterly Dividend of $0.08

Garrett Motion Inc. (NASDAQ:GTX) announced a quarterly dividend on Thursday, April 30th. Investors of record on Monday, June 1st will be given a dividend of 0.08 per share on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 1st.

Garrett Motion Stock Performance

NASDAQ:GTX traded up $5.12 during midday trading on Thursday, reaching $25.61. 7,280,041 shares of the stock traded hands, compared to its average volume of 2,355,393. The business has a 50-day moving average of $18.96 and a two-hundred day moving average of $17.85. The stock has a market capitalization of $4.82 billion, a PE ratio of 20.17 and a beta of 0.44. Garrett Motion has a 12-month low of $9.57 and a 12-month high of $25.77.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The firm’s revenue was up 12.2% compared to the same quarter last year. Research analysts anticipate that Garrett Motion will post 1.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BWS Financial reaffirmed a “buy” rating on shares of Garrett Motion in a report on Thursday. Freedom Capital raised shares of Garrett Motion to a “strong-buy” rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

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.