Garrett Motion’s (GTX) Buy Rating Reiterated at BWS Financial

BWS Financial reiterated their buy rating on shares of Garrett Motion (NYSE:GTX) in a research note published on Thursday,Benzinga reports. The firm currently has a $22.00 target price on the stock.

Several other analysts have also recently issued reports on GTX. JPMorgan Chase & Co. started coverage on Garrett Motion in a research note on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price objective on the stock. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Freedom Capital upgraded Garrett Motion to a “strong-buy” rating in a research note on Monday, April 6th. Finally, Stifel Nicolaus upped their price objective on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.80.

Garrett Motion Stock Up 0.4%

Shares of NYSE GTX opened at $19.48 on Thursday. The stock’s 50 day moving average price is $18.87 and its two-hundred day moving average price is $17.25. Garrett Motion has a 52-week low of $8.54 and a 52-week high of $21.42. The stock has a market capitalization of $3.70 billion, a P/E ratio of 15.34 and a beta of 0.44.

Garrett Motion (NYSE:GTX) last announced 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 negative return on equity of 38.75% and a net margin of 8.12%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts anticipate that Garrett Motion will post 1.25 EPS for the current year.

Garrett Motion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, March 2nd. Garrett Motion’s dividend payout ratio is presently 21.05%.

Insider Transactions at Garrett Motion

In other news, Director Julia Steyn sold 17,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total transaction of $337,620.00. Following the sale, the director directly owned 50,233 shares in the company, valued at approximately $997,627.38. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $20.29, for a total value of $405,800.00. Following the sale, the senior vice president owned 160,994 shares in the company, valued at $3,266,568.26. The trade was a 11.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 337,000 shares of company stock worth $6,839,290. 0.83% of the stock is currently owned by company insiders.

Institutional Trading of Garrett Motion

A number of institutional investors and hedge funds have recently made changes to their positions in GTX. Jones Financial Companies Lllp acquired a new stake in shares of Garrett Motion during the 1st quarter worth approximately $42,000. Jane Street Group LLC raised its position in shares of Garrett Motion by 641.7% during the 1st quarter. Jane Street Group LLC now owns 90,919 shares of the company’s stock worth $761,000 after purchasing an additional 78,661 shares during the period. Cetera Investment Advisers acquired a new stake in Garrett Motion in the 2nd quarter valued at approximately $121,000. Legal & General Group Plc increased its position in Garrett Motion by 30.4% in the 2nd quarter. Legal & General Group Plc now owns 97,486 shares of the company’s stock valued at $1,024,000 after acquiring an additional 22,727 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in Garrett Motion in the 2nd quarter valued at approximately $225,000. 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.