Garrett Motion Inc. (NASDAQ:GTX) Stock Has Consensus Target Price of $38.20 According to Analysts

Shares of Garrett Motion Inc. (NASDAQ:GTX) have been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $38.20.

Several research firms recently weighed in on GTX. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and upped their price target for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Garrett Motion from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garrett Motion in a research note on Friday, July 24th. JPMorgan Chase & Co. lowered their target price on Garrett Motion from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, September 15th. Finally, BWS Financial reiterated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a report on Thursday.

Insiders Place Their Bets

In related news, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $26.89, for a total value of $537,800.00. Following the completion of the transaction, the senior vice president directly owned 113,783 shares of the company’s stock, valued at $3,059,624.87. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Garrett Motion

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new stake in Garrett Motion during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its position in Garrett Motion by 39.6% during the third quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after purchasing an additional 476 shares in the last quarter. Summit Securities Group LLC acquired a new position in Garrett Motion during the first quarter worth about $60,000. PNC Financial Services Group Inc. grew its holdings 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 valued at $63,000 after buying an additional 629 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in Garrett Motion during the 2nd quarter worth about $64,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Trading Up 1.9%

GTX opened at $26.24 on Monday. The firm has a 50 day moving average of $27.29 and a two-hundred day moving average of $27.82. Garrett Motion has a 12-month low of $12.26 and a 12-month high of $36.25. The firm has a market capitalization of $4.89 billion, a PE ratio of 14.42, a P/E/G ratio of 0.66 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%. The business had revenue of $976.00 million during the quarter. During the same quarter in the previous year, the business posted $0.42 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Garrett Motion will post 1.92 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

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

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.