Garrett Motion Inc. (NYSE:GTX) Receives $18.80 Consensus PT from Analysts

by · The Markets Daily

Garrett Motion Inc. (NYSE:GTX – Get Free Report) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.80.

Several equities research analysts recently weighed in on GTX shares. BWS Financial increased their target price on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. JPMorgan Chase & Co. initiated coverage on shares of Garrett Motion in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $23.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Garrett Motion in a report on Monday, October 20th. They set a “hold” rating and a $14.00 price target on the stock.

View Our Latest Research Report on GTX

Garrett Motion Price Performance

Shares of GTX opened at $17.96 on Friday. Garrett Motion has a 1-year low of $7.01 and a 1-year high of $18.02. The company has a market capitalization of $3.49 billion, a P/E ratio of 14.14 and a beta of 0.25. The firm’s 50 day simple moving average is $16.99 and its 200 day simple moving average is $14.16.

Garrett Motion (NYSE:GTX – Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. On average, equities analysts anticipate that Garrett Motion will post 1.25 earnings per share for the current year.

Garrett Motion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Garrett Motion’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.8%. Garrett Motion’s payout ratio is 20.38%.

Garrett Motion announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 3rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Garrett Motion

A number of hedge funds and other institutional investors have recently bought and sold shares of GTX. D Orazio & Associates Inc. grew its stake in shares of Garrett Motion by 7.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock valued at $206,000 after acquiring an additional 1,015 shares during the period. Raymond James Financial Inc. boosted its position in shares of Garrett Motion by 2.3% during the 2nd quarter. Raymond James Financial Inc. now owns 77,365 shares of the company’s stock valued at $813,000 after acquiring an additional 1,759 shares during the last quarter. Garden State Investment Advisory Services LLC raised its stake in Garrett Motion by 16.4% during the second quarter. Garden State Investment Advisory Services LLC now owns 13,667 shares of the company’s stock valued at $144,000 after purchasing an additional 1,922 shares in the last quarter. Baron Wealth Management LLC lifted its position in Garrett Motion by 13.0% during the third quarter. Baron Wealth Management LLC now owns 24,876 shares of the company’s stock valued at $339,000 after purchasing an additional 2,857 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Garrett Motion by 5.7% in the 2nd quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock worth $610,000 after buying an additional 3,106 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

About Garrett Motion

(Get Free Report)

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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