Garrett Motion Inc. (NASDAQ:GTX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Garrett Motion Inc. (NASDAQ:GTX) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.8333.

A number of equities research analysts have weighed in on GTX shares. Stifel Nicolaus lifted their target price on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. BWS Financial lifted their target price on Garrett Motion from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. lifted their target price on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 22nd. 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.

Insiders Place Their Bets

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of Garrett Motion stock in a transaction on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the transaction, the director directly owned 124,885 shares in the company, valued at approximately $3,898,909.70. This trade represents a 12.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of Garrett Motion stock in a transaction on Friday, May 29th. The shares were sold at an average price of $33.00, for a total value of $2,310,000.00. Following the completion of the transaction, the senior vice president owned 147,956 shares in the company, valued at $4,882,548. This 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. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Convergence Investment Partners LLC increased its holdings in shares of Garrett Motion by 0.9% in the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after acquiring an additional 423 shares during the period. PNC Financial Services Group Inc. grew its stake in Garrett Motion by 22.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after buying an additional 629 shares during the last quarter. Baron Wealth Management LLC grew its stake in Garrett Motion by 3.3% during the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock worth $496,000 after buying an additional 878 shares during the last quarter. Global Retirement Partners LLC grew its stake in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after buying an additional 970 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Garrett Motion by 2.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock worth $707,000 after buying an additional 995 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Garrett Motion Stock Down 4.7%

Shares of NASDAQ GTX opened at $31.21 on Tuesday. The business has a fifty day simple moving average of $23.93 and a two-hundred day simple moving average of $20.11. The firm has a market cap of $5.84 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. Garrett Motion has a twelve month low of $9.57 and a twelve month high of $34.34.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $985.00 million during the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts expect that Garrett Motion will post 1.83 earnings per share for the current year.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is currently 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.