Brokerages Set Garrett Motion Inc. (NASDAQ:GTX) Target Price at $22.80

Garrett Motion Inc. (NASDAQ:GTX) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $27.80.

A number of research firms recently weighed in on GTX. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price objective on shares of Garrett Motion in a research report on Friday, May 1st. Stifel Nicolaus lifted their price objective on shares of Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings began coverage on shares of Garrett Motion in a research report on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th.

Garrett Motion Price Performance

NASDAQ:GTX opened at $31.87 on Friday. The firm’s fifty day moving average price is $20.53 and its 200 day moving average price is $18.84. Garrett Motion has a 1-year low of $9.57 and a 1-year high of $32.44. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.04 and a beta of 0.70.

Garrett Motion (NASDAQ:GTX) last posted 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. Garrett Motion’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, analysts expect that Garrett Motion will post 1.83 earnings per share for the current fiscal year.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is 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 18.71%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $20.32, for a total value of $2,926,080.00. Following the completion of the sale, the chief executive officer owned 905,546 shares of the company’s stock, valued at approximately $18,400,694.72. This trade represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the completion of the sale, the senior vice president directly owned 160,994 shares of the company’s stock, valued at approximately $3,266,568.26. This trade represents a 11.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 337,000 shares of company stock valued at $6,839,290. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Garrett Motion

A number of hedge funds and other institutional investors have recently bought and sold shares of GTX. Convergence Investment Partners LLC raised its stake 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 buying an additional 423 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of 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 raised its stake in shares of 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 raised 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 worth $28,000 after buying an additional 970 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of 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. 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.