Analysts Set Garrett Motion Inc. (NYSE:GTX) Price Target at $18.80

Garrett Motion Inc. (NYSE:GTX) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.80.

Several research firms have issued reports on GTX. JPMorgan Chase & Co. assumed coverage on shares of Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target for the company. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Stifel Nicolaus lifted their price target on Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, BWS Financial increased their price objective on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 12th.

Insider Activity

In other news, Director Julia Steyn sold 17,000 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction of $337,620.00. Following the completion of the transaction, the director directly owned 50,233 shares of the company’s stock, valued at approximately $997,627.38. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GTX. Cullen Frost Bankers Inc. grew its position in shares of Garrett Motion by 7,110.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after buying an additional 1,422 shares during the last quarter. Spire Wealth Management lifted its stake in Garrett Motion by 971.2% in the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares during the period. Global Retirement Partners LLC lifted its stake in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Garrett Motion by 1,422.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock valued at $30,000 after acquiring an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Garrett Motion during the 1st quarter valued at $42,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Price Performance

NYSE:GTX opened at $20.46 on Friday. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 16.11 and a beta of 0.33. The business has a 50 day moving average of $18.67 and a 200 day moving average of $16.09. Garrett Motion has a 1-year low of $7.01 and a 1-year high of $21.42.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Garrett Motion will post 1.25 EPS for the current year.

Garrett Motion announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 3rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.32 annualized dividend and a yield of 1.6%. Garrett Motion’s dividend payout ratio is presently 21.05%.

About Garrett Motion

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.