Garrett Motion Inc. (NASDAQ:GTX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Garrett Motion Inc. (NASDAQ:GTX) have received a consensus rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $38.20.

Several research firms recently issued reports on GTX. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research note on Thursday, May 21st. BWS Financial reiterated a “buy” rating and issued a $42.00 price target on shares of Garrett Motion in a research note on Thursday, July 30th. Wall Street Zen downgraded Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th.

Insiders Place Their Bets

In other news, SVP Mark Rodrigues sold 6,140 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the sale, the senior vice president owned 77,038 shares in the company, valued at approximately $2,565,365.40. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Daniel Deiro sold 30,000 shares of Garrett Motion stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $26.70, for a total transaction of $801,000.00. Following the completion of the transaction, the senior vice president directly owned 133,783 shares of the company’s stock, valued at approximately $3,572,006.10. This represents a 18.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 56,140 shares of company stock worth $1,543,262 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Garrett Motion

Several large investors have recently made changes to their positions in GTX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Garrett Motion by 54.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,397 shares of the company’s stock valued at $14,434,000 after acquiring an additional 140,254 shares in the last quarter. Castleark Management LLC bought a new stake in Garrett Motion in the second quarter worth approximately $17,009,000. Smead Capital Management Inc. acquired a new position in shares of Garrett Motion during the 4th quarter worth $4,257,000. JB Capital Partners LP acquired a new position in shares of Garrett Motion during the 2nd quarter worth $3,296,930. Finally, Walleye Capital LLC bought a new position in shares of Garrett Motion during the 2nd quarter valued at $3,398,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Stock Up 2.0%

NASDAQ GTX opened at $26.13 on Thursday. The stock has a market cap of $4.87 billion, a PE ratio of 14.36, a P/E/G ratio of 0.66 and a beta of 0.79. Garrett Motion has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The business has a 50 day moving average price of $29.09 and a two-hundred day moving average price of $26.96.

Garrett Motion (NASDAQ:GTX) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company had revenue of $976.00 million for the quarter. During the same quarter in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Garrett Motion will post 1.91 EPS for the current fiscal year.

Garrett Motion Announces Dividend

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

Garrett Motion Company Profile

Garrett Motion Inc is a technology company that develops products and software for the automotive and commercial vehicle industries. Its portfolio is focused on improving vehicle performance, fuel efficiency, emissions control and electrification.

The company’s products include turbochargers, electric boosting systems, fuel-cell compressors, thermal-management technologies and related automotive software. Garrett supplies components and systems for passenger vehicles, commercial vehicles and motorsports applications, while also serving the automotive aftermarket.

Garrett Motion has roots in Honeywell’s transportation systems business and became an independent publicly traded company in 2018.