Brokerages Set Garrett Motion Inc. (NASDAQ:GTX) Price Target at $31.83

Shares of Garrett Motion Inc. (NASDAQ:GTX) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.8333.

Several equities analysts recently commented on GTX shares. Weiss Ratings assumed coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Freedom Capital cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Stifel Nicolaus boosted their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, May 14th. BWS Financial upped their price target on shares of Garrett Motion from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a report on Friday, May 1st.

Garrett Motion Stock Performance

Shares of NASDAQ GTX opened at $33.59 on Friday. Garrett Motion has a 1 year low of $10.65 and a 1 year high of $36.25. The firm’s 50 day moving average price is $30.54 and its 200 day moving average price is $22.75. The firm has a market cap of $6.29 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78.

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

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

Insider Transactions at Garrett Motion

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction on Friday, May 15th. The shares were sold at an average price of $31.22, for a total transaction of $536,297.16. Following the transaction, the director owned 124,885 shares in the company, valued at approximately $3,898,909.70. The trade was a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the sale, the senior vice president directly owned 147,956 shares of the company’s stock, valued at approximately $4,882,548. This trade represents 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 sold a total of 213,834 shares of company stock worth $6,918,710 in the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Garrett Motion

Several large investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its position in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares during the last quarter. Spire Wealth Management increased its holdings in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Garrett Motion by 156.7% during 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. boosted its stake in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after buying an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion during the first quarter worth approximately $42,000. 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.