Garrett Motion (NYSE:GTX) Reaches New 1-Year High - Still a Buy?

Garrett Motion Inc. (NYSE:GTX - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $12.78 and last traded at $12.35, with a volume of 1414669 shares. The stock had previously closed at $11.79.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GTX. BWS Financial reissued a "buy" rating and issued a $14.00 price target on shares of Garrett Motion in a research note on Wednesday, June 25th. BNP Paribas started coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating for the company. Finally, BNP Paribas Exane started coverage on Garrett Motion in a research note on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price objective on the stock.

Garrett Motion Stock Performance

The firm has a fifty day moving average price of $10.83 and a 200-day moving average price of $9.86. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 9.51 and a beta of 0.01.

Garrett Motion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.06 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.98%. Garrett Motion's payout ratio is 18.60%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $10.30, for a total value of $30,900,000.00. Following the transaction, the insider owned 8,906,010 shares in the company, valued at $91,731,903. The trade was a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 58,829 shares of Garrett Motion stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $11.80, for a total transaction of $694,182.20. Following the sale, the insider directly owned 22,846,995 shares in the company, valued at $269,594,541. This trade represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,990,082 shares of company stock valued at $52,389,252. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Garrett Motion in the fourth quarter worth $326,000. HighTower Advisors LLC boosted its holdings in Garrett Motion by 14.3% during the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company's stock worth $281,000 after acquiring an additional 3,880 shares during the last quarter. Swiss National Bank boosted its stake in shares of Garrett Motion by 11.3% in the 4th quarter. Swiss National Bank now owns 172,000 shares of the company's stock worth $1,553,000 after buying an additional 17,500 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Garrett Motion by 1,952.2% in the 4th quarter. Teacher Retirement System of Texas now owns 280,965 shares of the company's stock valued at $2,537,000 after purchasing an additional 267,274 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Garrett Motion during the fourth quarter worth about $133,000. Institutional investors own 86.27% of the company's stock.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.

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