Garrett Motion Inc. (NYSE:GTX) Receives $16.50 Average Target Price from Analysts

by · The Markets Daily

Shares of Garrett Motion Inc. (NYSE:GTX – Get Free Report) have received a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

Several research firms have commented on GTX. BWS Financial reiterated a “buy” rating and issued a $18.00 target price on shares of Garrett Motion in a research report on Friday, October 24th. Stifel Nicolaus set a $20.00 price objective on Garrett Motion in a research note on Friday, October 24th. Zacks Research upgraded shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Garrett Motion in a research report on Monday, October 20th. They set a “hold” rating and a $14.00 target price on the stock.

Check Out Our Latest Report on Garrett Motion

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. William Blair Investment Management LLC lifted its position in shares of Garrett Motion by 51.0% in the 3rd quarter. William Blair Investment Management LLC now owns 7,715,824 shares of the company’s stock worth $105,090,000 after purchasing an additional 2,605,296 shares during the period. Gates Capital Management Inc. lifted its holdings in shares of Garrett Motion by 53.1% in the 1st quarter. Gates Capital Management Inc. now owns 6,795,553 shares of the company’s stock worth $56,879,000 after purchasing an additional 2,358,294 shares in the last quarter. LSV Asset Management acquired a new position in shares of Garrett Motion during the third quarter valued at about $58,247,000. Vanguard Group Inc. increased its holdings in Garrett Motion by 40.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,189,811 shares of the company’s stock worth $57,065,000 after purchasing an additional 1,205,549 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Garrett Motion by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,186,089 shares of the company’s stock worth $43,390,000 after buying an additional 70,155 shares in the last quarter. 86.27% of the stock is owned by institutional investors.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $17.09 on Tuesday. The company’s 50 day moving average price is $15.67 and its two-hundred day moving average price is $13.29. The firm has a market capitalization of $3.32 billion, a P/E ratio of 13.46 and a beta of 0.23. Garrett Motion has a fifty-two week low of $7.01 and a fifty-two week high of $17.91.

Garrett Motion (NYSE:GTX – Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.38 earnings per share (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%. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts expect that Garrett Motion will post 1.25 earnings per share for the current year.

Garrett Motion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Garrett Motion’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, December 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 20.38%.

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

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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