Garrett Motion Inc. (NYSE:GTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Garrett Motion Inc. (NYSE:GTX) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.80.

A number of research firms have weighed in on GTX. Stifel Nicolaus increased their target price on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. BWS Financial boosted their price target on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. began coverage on shares of Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target for the company. Finally, Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th.

Insider Transactions at Garrett Motion

In related 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 transaction, the chief executive officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julia Steyn sold 17,000 shares of Garrett Motion stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total value of $337,620.00. Following the transaction, the director owned 50,233 shares in the company, valued at $997,627.38. This trade represents a 25.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 337,000 shares of company stock worth $6,839,290 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Garrett Motion

A number of hedge funds and other institutional investors have recently bought and sold shares of GTX. Global Retirement Partners LLC lifted its position 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 valued at $28,000 after buying an additional 970 shares in the last quarter. D Orazio & Associates Inc. grew its stake in shares of Garrett Motion by 7.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock valued at $206,000 after acquiring an additional 1,015 shares during the period. Spire Wealth Management increased its holdings in Garrett Motion by 971.2% in the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after acquiring an additional 1,422 shares in the last quarter. Finally, Baron Wealth Management LLC raised its stake in Garrett Motion by 6.3% during the 4th quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock worth $461,000 after acquiring an additional 1,570 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Trading Down 1.0%

Shares of GTX opened at $17.33 on Thursday. The firm has a fifty day simple moving average of $18.92 and a two-hundred day simple moving average of $16.65. The firm has a market cap of $3.29 billion, a PE ratio of 13.65 and a beta of 0.31. Garrett Motion has a 1-year low of $7.01 and a 1-year high of $21.42.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The firm’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Garrett Motion will post 1.25 EPS for the current fiscal year.

Garrett Motion declared that its board has authorized a stock buyback program on Wednesday, December 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. Garrett Motion’s dividend payout ratio is currently 21.05%.

About Garrett Motion

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.