Garrett Motion (NYSE:GTX) Sets New 52-Week High – Here’s What Happened

Shares of Garrett Motion Inc. (NYSE:GTX) hit a new 52-week high during trading on Monday . The stock traded as high as $10.39 and last traded at $9.73, with a volume of 40625 shares trading hands. The stock had previously closed at $9.88.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a report on Wednesday, January 22nd.

Garrett Motion Stock Performance

The firm has a market capitalization of $2.05 billion, a PE ratio of 7.54 and a beta of 1.15. The business’s fifty day simple moving average is $9.30 and its 200-day simple moving average is $8.54.

Garrett Motion Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, January 15th. This represents a yield of 2.7%. Garrett Motion’s dividend payout ratio (DPR) is currently 18.90%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTX. Gates Capital Management Inc. purchased a new position in shares of Garrett Motion in the 4th quarter worth approximately $40,068,000. Eubel Brady & Suttman Asset Management Inc. purchased a new position in Garrett Motion during the fourth quarter worth $15,442,000. Frontier Capital Management Co. LLC bought a new position in Garrett Motion during the fourth quarter valued at $13,147,000. Public Employees Retirement System of Ohio purchased a new position in shares of Garrett Motion during the 3rd quarter worth about $5,928,000. Finally, Prevatt Capital Ltd raised its position in Garrett Motion by 18.2% in the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock worth $29,348,000 after purchasing an additional 500,000 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, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.