Garrett Motion (NASDAQ:GTX) Sets New 1-Year High – Should You Buy?

Garrett Motion Inc. (NASDAQ:GTX)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $29.89 and last traded at $29.57, with a volume of 3712619 shares traded. The stock had previously closed at $29.14.

Wall Street Analyst Weigh In

GTX has been the subject of a number of research reports. Weiss Ratings initiated coverage on Garrett Motion in a research note on Wednesday, April 29th. They issued a “buy (b)” rating for the company. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. BWS Financial lifted their price target on Garrett Motion from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price target on shares of Garrett Motion in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Garrett Motion currently has an average rating of “Moderate Buy” and an average price target of $22.80.

Garrett Motion Price Performance

The stock’s fifty day simple moving average is $20.05 and its 200-day simple moving average is $18.62. The stock has a market cap of $5.54 billion, a P/E ratio of 17.29, a PEG ratio of 0.97 and a beta of 0.70.

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. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The firm had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $917.23 million. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Garrett Motion Inc. will post 1.83 EPS for the current year.

Garrett Motion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Garrett Motion’s dividend payout ratio (DPR) is currently 18.71%.

Insiders Place Their Bets

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total value of $337,620.00. Following the transaction, the director owned 50,233 shares of the company’s stock, valued at $997,627.38. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Daniel Deiro sold 20,000 shares of Garrett Motion stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the sale, the senior vice president directly owned 160,994 shares in the company, valued at approximately $3,266,568.26. This trade represents a 11.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 337,000 shares of company stock valued at $6,839,290 over the last quarter. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. raised its holdings in shares of Garrett Motion by 7,110.0% during 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 during the last quarter. Spire Wealth Management raised its holdings in shares of Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock valued at $26,000 after buying an additional 1,350 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after buying an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after buying an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion during the first quarter valued at approximately $42,000. Institutional investors own 86.27% of the company’s stock.

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.