Garrett Motion (NYSE:GTX) Earns Buy Rating from Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus has initiated coverage on Garrett Motion (NYSE:GTX) with a buy rating and a $17.50 price target, suggesting a potential upside of 29.06% from its current price.
• Garrett Motion has received mixed ratings from other brokerages, with a consensus rating of "Moderate Buy" and an average target price of $15.17.
• Insider selling has been significant recently, with major shareholders decreasing their ownership by selling over 13 million shares in the past 90 days.

Stifel Nicolaus began coverage on shares of Garrett Motion (NYSE:GTX - Free Report) in a research note released on Friday, Marketbeat reports. The brokerage issued a buy rating and a $17.50 price objective on the stock.

A number of other brokerages also recently issued reports on GTX. BWS Financial reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Garrett Motion in a research report on Wednesday, June 25th. Zacks Research downgraded Garrett Motion from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. BNP Paribas Exane initiated coverage on Garrett Motion in a report on Wednesday, July 16th. They set an "outperform" rating and a $14.00 price target on the stock. Finally, BNP Paribas started coverage on Garrett Motion in a research note on Wednesday, July 16th. They issued an "outperform" rating for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.17.

Garrett Motion Price Performance

Shares of NYSE GTX traded down $0.04 during trading on Friday, hitting $13.56. The stock had a trading volume of 4,197,099 shares, compared to its average volume of 2,226,514. The firm has a fifty day moving average of $12.78 and a two-hundred day moving average of $10.91. The company has a market capitalization of $2.73 billion, a PE ratio of 10.68 and a beta of 0.27. Garrett Motion has a 12 month low of $7.01 and a 12 month high of $13.91.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $0.06 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.8%. Garrett Motion's dividend payout ratio (DPR) is presently 16.78%.

Insider Buying and Selling

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the sale, the insider owned 20,009,945 shares in the company, valued at $265,732,069.60. This represents a 1.72% 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, insider Centerbridge Credit Partners M sold 9,000,000 shares of Garrett Motion stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total value of $110,430,000.00. Following the completion of the transaction, the insider owned 4,740,569 shares of the company's stock, valued at approximately $58,166,781.63. This trade represents a 65.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,520,627 shares of company stock worth $165,408,993 over the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its holdings in shares of Garrett Motion by 18.6% in the fourth quarter. Northern Trust Corp now owns 369,976 shares of the company's stock worth $3,341,000 after buying an additional 58,045 shares in the last quarter. Deutsche Bank AG increased its holdings in Garrett Motion by 185.5% during the 4th quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock worth $74,000 after acquiring an additional 5,329 shares during the period. Quantinno Capital Management LP purchased a new stake in Garrett Motion in the 4th quarter worth approximately $361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Garrett Motion by 10.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,098 shares of the company's stock valued at $1,265,000 after purchasing an additional 13,363 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Garrett Motion by 9.2% during the 4th quarter. California State Teachers Retirement System now owns 75,376 shares of the company's stock valued at $681,000 after purchasing an additional 6,326 shares in the last quarter. Hedge funds and other 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.