Garrett Motion Inc. (NASDAQ:GTX) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Garrett Motion has a consensus “Buy” rating from seven analysts, with five buy ratings, one strong buy, and one hold. The average 12-month price target is $38.20, above the stock’s recent price of $27.07.
• The company reported quarterly EPS of $0.53, beating expectations of $0.46, while revenue rose 6.9% year over year to $976 million. Analysts expect full-year EPS of approximately $1.91.
• Institutional investors own 86.27% of Garrett Motion, including new positions from BlackRock and William Blair, while an executive sold 30,000 shares under a pre-arranged trading plan. The company also pays a quarterly dividend of $0.08, yielding about 1.2% annually.

Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) has earned an average recommendation of "Buy" from the seven research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $38.20.

GTX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Garrett Motion from a "hold" rating to a "buy" rating and boosted their price objective for the company from $33.00 to $36.00 in a report on Thursday, July 30th. Wall Street Zen cut shares of Garrett Motion from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reiterated a "buy (b)" rating on shares of Garrett Motion in a research note on Friday, July 24th. JPMorgan Chase & Co. lowered their price target on Garrett Motion from $37.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, September 15th. Finally, Zacks Research upgraded Garrett Motion from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 8th.

Insider Transactions at Garrett Motion

In other Garrett Motion news, SVP Daniel Deiro sold 30,000 shares of the business's stock in a transaction dated 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 sale, the senior vice president directly owned 133,783 shares in the company, valued at $3,572,006.10. The trade was a 18.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Garrett Motion in the second quarter worth approximately $461,794,000. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $89,580,000 after buying an additional 3,241,952 shares during the last quarter. William Blair Investment Management LLC bought a new position in Garrett Motion in the second quarter worth approximately $117,127,000. Apis Capital Advisors LLC raised its position in Garrett Motion by 1,492.9% in the fourth quarter. Apis Capital Advisors LLC now owns 2,230,000 shares of the company's stock worth $38,869,000 after acquiring an additional 2,090,000 shares during the period. Finally, Norges Bank purchased a new position in shares of Garrett Motion during the 4th quarter worth $29,237,000. Hedge funds and other institutional investors own 86.27% of the company's stock.

Garrett Motion Price Performance

Shares of GTX opened at $27.07 on Monday. The business's 50 day moving average price is $27.71 and its 200-day moving average price is $27.59. Garrett Motion has a 52 week low of $12.26 and a 52 week high of $36.25. The stock has a market cap of $5.05 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.70 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $976.00 million for the quarter. Garrett Motion had a negative return on equity of 46.50% and a net margin of 9.51%.The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS. On average, equities analysts anticipate that Garrett Motion will post 1.91 EPS for the current year.

Garrett Motion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Garrett Motion's dividend payout ratio is currently 17.58%.

About Garrett Motion

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, fuel efficiency, emissions control and electrification. Its products serve passenger cars, commercial vehicles and off-highway applications, as well as the automotive aftermarket and motorsports sectors.

The company is best known for its turbochargers and related boosting technologies, which help internal-combustion engines produce power more efficiently.

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