Garrett Motion (NASDAQ:GTX) Upgraded to Buy at Freedom Broker

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

Several other research analysts have also recently weighed in on GTX. Deutsche Bank Aktiengesellschaft upgraded shares of Garrett Motion from a “hold” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $36.00 in a research report on Thursday, July 30th. Zacks Research cut shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Wall Street Zen lowered shares of Garrett Motion from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. BWS Financial restated a “buy” rating and set a $42.00 price objective on shares of Garrett Motion in a research report on Thursday, October 8th. Finally, Weiss Ratings cut shares of Garrett Motion from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Six research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Garrett Motion Price Performance

Shares of NASDAQ GTX opened at $20.91 on Friday. The firm has a market capitalization of $3.90 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.63 and a beta of 0.83. The stock’s 50-day simple moving average is $25.54 and its two-hundred day simple moving average is $25.34. Garrett Motion has a twelve month low of $15.54 and a twelve month high of $36.25.

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

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, December 1st. Garrett Motion’s dividend payout ratio (DPR) is presently 16.41%.

Insiders Place Their Bets

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total transaction of $537,800.00. Following the completion of the sale, the senior vice president directly owned 113,783 shares in the company, valued at $3,059,624.87. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Persistent Asset Partners Ltd bought a new stake in shares of Garrett Motion in the 2nd quarter valued at about $27,000. Root Financial Partners LLC purchased a new stake in Garrett Motion during the 3rd quarter valued at about $32,000. Signature Equity Partners LLC bought a new position in Garrett Motion during the 3rd quarter worth approximately $35,000. Farther Finance Advisors LLC grew its position in Garrett Motion by 39.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,679 shares of the company’s stock worth $44,000 after acquiring an additional 476 shares during the last quarter. Finally, Allworth Financial LP bought a new position in Garrett Motion during the 2nd quarter worth approximately $64,000. 86.27% of the stock is owned by institutional investors.

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.