Garrett Motion (NYSE:GTX) Reaches New 12-Month High – Should You Buy?

by · The Markets Daily

Garrett Motion Inc. (NYSE:GTXGet Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $17.65 and last traded at $17.4810, with a volume of 1485234 shares changing hands. The stock had previously closed at $17.15.

Wall Street Analyst Weigh In

GTX has been the topic of a number of recent analyst reports. Zacks Research raised Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. BNP Paribas assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Garrett Motion in a research note on Monday, October 20th. They set a “hold” rating and a $14.00 price target for the company. BNP Paribas Exane assumed coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, BWS Financial reaffirmed a “buy” rating and issued a $18.00 price target on shares of Garrett Motion in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Garrett Motion currently has an average rating of “Buy” and an average target price of $16.50.

View Our Latest Analysis on GTX

Garrett Motion Stock Performance

The firm has a market cap of $3.40 billion, a P/E ratio of 13.79 and a beta of 0.37. The firm’s fifty day moving average price is $13.84 and its 200 day moving average price is $12.18.

Garrett Motion (NYSE:GTXGet Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Garrett Motion has set its FY 2025 guidance at EPS. As a group, analysts expect that Garrett Motion Inc. will post 1.25 earnings per share for the current fiscal year.

Garrett Motion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from Garrett Motion’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. Garrett Motion’s dividend payout ratio is 20.38%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $13.00, for a total transaction of $16,900,000.00. Following the sale, the insider directly owned 21,128,348 shares in the company, valued at approximately $274,668,524. The trade was a 5.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the completion of the transaction, the insider directly owned 4,740,569 shares of the company’s stock, valued at $58,166,781.63. The trade was a 65.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,418,403 shares of company stock worth $142,169,564 over the last three months. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in Garrett Motion in the second quarter worth $45,000. Amalgamated Bank bought a new stake in shares of Garrett Motion in the 2nd quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd boosted its position in Garrett Motion by 4,655.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock worth $47,000 after purchasing an additional 4,423 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the first quarter worth approximately $42,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Garrett Motion during the second quarter worth approximately $61,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

About Garrett Motion

(Get Free Report)

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.

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