Garrett Motion Inc. (NASDAQ:GTX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Garrett Motion has a consensus analyst rating of “Moderate Buy”, based on coverage from eight analysts: five buy ratings, one strong buy, and two holds. The average 12-month price target is about $31.83.
• The company recently posted better-than-expected quarterly results, reporting EPS of $0.49 versus the $0.43 estimate and revenue of $985 million versus expectations of $917.23 million. Revenue also rose 12.2% year over year.
• There has been notable insider selling, including transactions by Director Daniel A. Ninivaggi and SVP Thierry Mabru under pre-arranged trading plans. At the same time, institutional ownership remains high at 86.27%.

Garrett Motion Inc. (NASDAQ:GTX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $31.8333.

Several equities analysts have weighed in on GTX shares. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They set a "buy (b)" rating for the company. Freedom Capital lowered Garrett Motion from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on Garrett Motion from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a research note on Thursday, May 21st. Finally, BWS Financial raised their price objective on Garrett Motion from $32.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, May 21st.

Insider Activity at Garrett Motion

In other news, Director Daniel A. Ninivaggi sold 17,178 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $31.22, for a total value of $536,297.16. Following the completion of the sale, the director directly owned 124,885 shares of the company's stock, valued at $3,898,909.70. This trade represents a 12.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Thierry Mabru sold 70,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $33.00, for a total value of $2,310,000.00. Following the sale, the senior vice president directly owned 147,956 shares of the company's stock, valued at $4,882,548. This represents a 32.12% 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. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arete Wealth Advisors LLC bought a new stake in shares of Garrett Motion during the 1st quarter worth approximately $224,000. Janus Henderson Group PLC lifted its stake in shares of Garrett Motion by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 78,600 shares of the company's stock worth $1,429,000 after acquiring an additional 14,300 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Garrett Motion by 50.2% during the 1st quarter. California State Teachers Retirement System now owns 202,555 shares of the company's stock worth $3,680,000 after acquiring an additional 67,740 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Garrett Motion by 2.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 88,693 shares of the company's stock worth $1,612,000 after acquiring an additional 2,198 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Garrett Motion by 25.7% during the 1st quarter. Quantinno Capital Management LP now owns 16,703 shares of the company's stock worth $303,000 after acquiring an additional 3,415 shares during the last quarter. 86.27% of the stock is owned by institutional investors.

Garrett Motion Price Performance

NASDAQ GTX opened at $31.21 on Tuesday. The stock has a market capitalization of $5.84 billion, a PE ratio of 18.25, a P/E/G ratio of 1.09 and a beta of 0.70. The business has a 50 day simple moving average of $23.93 and a two-hundred day simple moving average of $20.11. Garrett Motion has a 1-year low of $9.57 and a 1-year high of $34.34.

Garrett Motion (NASDAQ:GTX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 company's quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Garrett Motion will post 1.83 EPS for the current fiscal year.

Garrett Motion Dividend Announcement

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

Garrett Motion Company Profile

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.

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