Garrett Motion (NASDAQ:GTX) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Garrett Motion (NASDAQ:GTX) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the company. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 8th. JPMorgan Chase & Co. dropped their price objective on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and upped their target price for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. BWS Financial reaffirmed a “buy” rating and set a $42.00 target price on shares of Garrett Motion in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $38.20.

Garrett Motion Stock Performance

NASDAQ:GTX opened at $27.07 on Friday. Garrett Motion has a 52 week low of $12.26 and a 52 week high of $36.25. The firm’s fifty day moving average is $27.71 and its 200-day moving average is $27.51. The firm has a market cap of $5.05 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.70 and a beta of 0.83.

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

Garrett Motion Dividend Announcement

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

Insiders Place Their Bets

In other Garrett Motion news, SVP Daniel Deiro sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total value of $801,000.00. Following the transaction, the senior vice president owned 133,783 shares in the company, valued at approximately $3,572,006.10. This represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

A number of hedge funds have recently added to or reduced their stakes in GTX. BlackRock Inc. bought a new stake in shares of Garrett Motion during the second quarter worth about $461,794,000. Arrowstreet Capital Limited Partnership lifted its position in Garrett Motion by 170.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock valued at $89,580,000 after acquiring an additional 3,241,952 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Garrett Motion during the 2nd quarter valued at about $117,127,000. Apis Capital Advisors LLC increased its holdings in Garrett Motion by 1,492.9% during the 4th quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company’s stock worth $38,869,000 after purchasing an additional 2,090,000 shares in the last quarter. Finally, Norges Bank bought a new stake in Garrett Motion during the 4th quarter worth approximately $29,237,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.