Garrett Motion (NASDAQ:GTX) Stock Rating Lowered by Zacks Research

Garrett Motion (NASDAQ:GTX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on GTX. 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 research report on Thursday, May 14th. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research report on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, BWS Financial reaffirmed a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research note on Monday, July 6th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

Garrett Motion Trading Up 0.6%

NASDAQ GTX opened at $31.68 on Monday. Garrett Motion has a 12-month low of $11.04 and a 12-month high of $36.25. The company has a fifty day simple moving average of $32.41 and a two-hundred day simple moving average of $23.70. The stock has a market cap of $5.93 billion, a P/E ratio of 18.53, a P/E/G ratio of 0.99 and a beta of 0.78.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data 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. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Garrett Motion will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Mark Albert Rodrigues sold 6,140 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the sale, the senior vice president owned 77,038 shares of the company’s stock, valued at approximately $2,565,365.40. The trade was a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel A. Ninivaggi sold 17,178 shares of the 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 directly owned 124,885 shares in the company, valued at approximately $3,898,909.70. The trade was a 12.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 213,834 shares of company stock valued at $6,918,710 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Garrett Motion

Institutional investors and hedge funds have recently modified their holdings of the stock. Convergence Investment Partners LLC raised its holdings in shares of Garrett Motion by 0.9% during the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock worth $835,000 after acquiring an additional 423 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Garrett Motion by 22.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after purchasing an additional 629 shares during the period. Baron Wealth Management LLC increased its position in Garrett Motion by 3.3% during the first quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock worth $496,000 after purchasing an additional 878 shares during the last quarter. Global Retirement Partners LLC increased its position in Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Garrett Motion by 2.6% during the first 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 purchasing an additional 995 shares during the period. Hedge funds and other institutional investors 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.