Garrett Motion (NYSE:GTX) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Garrett Motion (NYSE:GTX) to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on GTX. Stifel Nicolaus upped their price objective on shares of Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. JPMorgan Chase & Co. began coverage on shares of Garrett Motion in a report on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 target price for the company. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, BWS Financial upped their target price on shares of Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Garrett Motion Price Performance

NYSE GTX opened at $19.04 on Monday. Garrett Motion has a 1 year low of $7.84 and a 1 year high of $21.42. The company has a market capitalization of $3.62 billion, a PE ratio of 14.99 and a beta of 0.44. The company has a fifty day moving average of $18.82 and a two-hundred day moving average of $17.17.

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

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, March 2nd. Garrett Motion’s dividend payout ratio is currently 21.05%.

Insider Buying and Selling

In related news, CEO Olivier Rabiller sold 144,000 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the transaction, the chief executive officer directly owned 905,546 shares of the company’s stock, valued at $18,400,694.72. This represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Julia Steyn sold 17,000 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the transaction, the director owned 50,233 shares in the company, valued at $997,627.38. The trade was a 25.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 337,000 shares of company stock valued at $6,839,290 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTX. Fuller & Thaler Asset Management Inc. acquired a new position in Garrett Motion during the fourth quarter worth about $180,383,000. LSV Asset Management acquired a new position in Garrett Motion during the third quarter worth about $58,247,000. Arrowstreet Capital Limited Partnership grew its position in Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after buying an additional 3,241,952 shares during the period. Merewether Investment Management LP acquired a new position in Garrett Motion during the third quarter worth about $40,590,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Garrett Motion during the third quarter worth about $36,539,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

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.