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

Garrett Motion Inc. (NASDAQ:GTX) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $35.40.

Several research firms have recently issued reports on GTX. Wall Street Zen lowered Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. raised their target price on shares of Garrett Motion from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a research report on Friday, May 1st. Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada set a $42.00 price objective on shares of Garrett Motion in a research note on Thursday, May 21st.

Insiders Place Their Bets

In other Garrett Motion news, SVP Mark Albert Rodrigues sold 10,516 shares of Garrett Motion stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $33.82, for a total value of $355,651.12. Following the transaction, the senior vice president owned 83,178 shares in the company, valued at $2,813,079.96. The trade was a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $31.93, for a total value of $3,512,300.00. Following the transaction, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at approximately $8,362,754.37. The trade was a 29.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 213,834 shares of company stock worth $6,918,710. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Garrett Motion

A number of hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new position in Garrett Motion during the 1st quarter worth approximately $42,000. Jane Street Group LLC boosted its position in Garrett Motion by 641.7% in the first quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock valued at $761,000 after buying an additional 78,661 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Garrett Motion during the second quarter worth $121,000. Legal & General Group Plc grew its stake in shares of Garrett Motion by 30.4% during the second quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock worth $1,024,000 after buying an additional 22,727 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Garrett Motion during the second quarter worth $225,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Garrett Motion Stock Performance

Shares of GTX stock opened at $32.36 on Wednesday. Garrett Motion has a 52 week low of $11.43 and a 52 week high of $36.25. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 0.92 and a beta of 0.78. The company has a 50-day simple moving average of $32.76 and a 200 day simple moving average of $24.20.

Garrett Motion (NASDAQ:GTX) last released its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. Garrett Motion’s quarterly revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that Garrett Motion will post 1.82 EPS for the current year.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 1st. 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.