Garrett Motion (NASDAQ:GTX) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Garrett Motion (NASDAQ:GTX) from a hold rating to a buy rating in a report released on Friday morning,Benzinga reports. Freedom Broker currently has $31.00 target price on the stock, down from their prior target price of $34.00.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Garrett Motion from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 15th. Zacks Research downgraded shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Weiss Ratings cut Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft raised Garrett Motion from a “hold” rating to a “buy” rating and upped their price target for the stock from $33.00 to $36.00 in a report on Thursday, July 30th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $42.00 price target on shares of Garrett Motion in a research note on Thursday, October 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Garrett Motion currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Garrett Motion Stock Performance

Shares of GTX opened at $20.91 on Friday. The company’s fifty day moving average is $25.54 and its 200 day moving average is $25.34. Garrett Motion has a fifty-two week low of $15.54 and a fifty-two week high of $36.25. The stock has a market capitalization of $3.90 billion, a PE ratio of 10.72, a P/E/G ratio of 0.63 and a beta of 0.83.

Garrett Motion (NASDAQ:GTX) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Garrett Motion had a net margin of 9.97% and a negative return on equity of 52.43%. The business had revenue of $930.00 million during the quarter. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts forecast that Garrett Motion will post 1.88 earnings per share for the current year.

Garrett Motion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. Garrett Motion’s dividend payout ratio (DPR) is presently 16.41%.

Insider Buying and Selling at Garrett Motion

In other news, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total transaction of $537,800.00. Following the transaction, the senior vice president directly owned 113,783 shares in the company, valued at approximately $3,059,624.87. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Convergence Investment Partners LLC lifted its holdings in shares of Garrett Motion by 0.9% in the 1st quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock valued at $835,000 after buying an additional 423 shares during the period. Farther Finance Advisors LLC lifted its stake in Garrett Motion by 39.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock valued at $44,000 after buying an additional 476 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Garrett Motion by 22.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock worth $63,000 after buying an additional 629 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Garrett Motion during the 2nd quarter worth $27,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Garrett Motion by 2.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,895 shares of the company’s stock worth $707,000 after acquiring an additional 995 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc is an automotive technology company that develops and manufactures solutions designed to improve vehicle performance, efficiency and emissions. Its products serve passenger vehicles, commercial vehicles and off-highway applications, supporting both internal-combustion and electrified powertrains.

The company is best known for its turbocharging technologies, including turbochargers and related air-management systems. Garrett also develops electric boosting systems, fuel-cell compressors, thermal-management products and other components intended to support hybrid, electric and fuel-cell vehicles.