Garrett Motion (NASDAQ:GTX – Free Report) had its target price increased by JPMorgan Chase & Co. from $33.00 to $37.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.
GTX has been the topic of a number of other reports. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft upgraded Garrett Motion from a “hold” rating to a “buy” rating and upped their price objective for the company from $33.00 to $36.00 in a research report on Thursday, July 30th. BWS Financial reissued a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a research report on Thursday, July 30th. Zacks Research downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen lowered shares of Garrett Motion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Garrett Motion currently has an average rating of “Moderate Buy” and an average price target of $38.60.
View Our Latest Report on Garrett Motion
Garrett Motion Stock Up 0.8%
Garrett Motion (NASDAQ:GTX – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $976.00 million during the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. Sell-side analysts expect that Garrett Motion will post 1.86 EPS for the current fiscal year.
Garrett Motion Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 1st. Garrett Motion’s payout ratio is presently 17.58%.
Insiders Place Their Bets
In related news, SVP Thierry Mabru sold 70,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $33.00, for a total transaction of $2,310,000.00. Following the completion of the sale, the senior vice president owned 147,956 shares in the company, valued at approximately $4,882,548. This trade represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 10,516 shares of Garrett Motion stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $33.82, for a total value of $355,651.12. Following the sale, the senior vice president directly owned 83,178 shares in the company, valued at $2,813,079.96. This trade represents a 11.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 213,834 shares of company stock worth $6,918,710. 1.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Garrett Motion
Institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. boosted its position 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 worth $25,000 after acquiring an additional 1,422 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in Garrett Motion in the 2nd quarter valued at $27,000. Global Retirement Partners LLC increased its holdings in Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock valued at $28,000 after acquiring an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Garrett Motion by 1,422.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Garrett Motion in the 1st quarter worth $42,000. Institutional investors own 86.27% of the company’s stock.
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.
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