Garrett Motion Inc. (NASDAQ:GTX) Receives $35.40 Consensus Price Target from Analysts

Shares of Garrett Motion Inc. (NASDAQ:GTX) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.40.

GTX has been the topic of a number of analyst reports. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. BWS Financial restated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a research note on Monday, July 6th. Weiss Ratings initiated coverage on shares of Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 target price on shares of Garrett Motion in a report on Friday, May 1st. Finally, Stifel Nicolaus increased their target price on shares of Garrett Motion from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th.

Insider Activity

In related news, Director Daniel A. Ninivaggi sold 17,178 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total transaction of $536,297.16. Following the sale, the director directly owned 124,885 shares in the company, valued at $3,898,909.70. This represents a 12.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sean Deason sold 110,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $31.93, for a total value of $3,512,300.00. Following the sale, the chief financial officer directly owned 261,909 shares of the company’s stock, valued at $8,362,754.37. This represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 213,834 shares of company stock worth $6,918,710. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Garrett Motion

Institutional investors and hedge funds have recently bought and sold shares of the business. Cullen Frost Bankers Inc. increased its stake in shares of Garrett Motion by 7,110.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock valued at $25,000 after buying an additional 1,422 shares in the last quarter. Spire Wealth Management lifted its position in Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after buying an additional 1,350 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after acquiring an additional 1,593 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Garrett Motion by 361.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock valued at $49,000 after acquiring an additional 2,210 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Trading Down 0.0%

NASDAQ GTX opened at $31.51 on Wednesday. The stock’s 50 day moving average is $32.77 and its two-hundred day moving average is $24.45. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 0.93 and a beta of 0.78. Garrett Motion has a 1-year low of $12.09 and a 1-year high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The firm’s revenue was up 12.2% on a year-over-year basis. On average, analysts predict that Garrett Motion will post 1.81 earnings per share for the current year.

Garrett Motion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Garrett Motion’s dividend payout ratio (DPR) is presently 18.71%.

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.