Garrett Motion’s (GTX) “Buy” Rating Reaffirmed at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Garrett Motion (NYSE:GTX) in a research note issued to investors on Wednesday morning,Benzinga reports. BWS Financial currently has a $12.00 price target on the stock.

Garrett Motion Stock Down 1.8 %

GTX opened at $9.45 on Wednesday. The company has a fifty day simple moving average of $8.88 and a 200 day simple moving average of $8.45. The stock has a market cap of $2.02 billion, a P/E ratio of 9.26 and a beta of 1.16. Garrett Motion has a 12 month low of $7.13 and a 12 month high of $10.16.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.06). Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. The business had revenue of $826.00 million for the quarter, compared to the consensus estimate of $854.00 million. During the same quarter last year, the firm earned $0.23 EPS. On average, equities research analysts expect that Garrett Motion will post 1.08 earnings per share for the current fiscal year.

Garrett Motion Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.06 per share. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 15th. Garrett Motion’s dividend payout ratio is 23.53%.

Insider Activity at Garrett Motion

In other Garrett Motion news, SVP Thierry Mabru sold 50,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total transaction of $373,500.00. Following the completion of the transaction, the senior vice president now owns 140,509 shares in the company, valued at approximately $1,049,602.23. This represents a 26.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. New South Capital Management Inc. raised its position in Garrett Motion by 19.0% in the 3rd quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after buying an additional 431,779 shares during the last quarter. Barclays PLC raised its holdings in shares of Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company’s stock valued at $2,430,000 after purchasing an additional 136,600 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its position in shares of Garrett Motion by 63.9% in the third quarter. Pekin Hardy Strauss Inc. now owns 155,450 shares of the company’s stock worth $1,272,000 after purchasing an additional 60,600 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in Garrett Motion by 25.0% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company’s stock worth $10,501,000 after purchasing an additional 256,366 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Garrett Motion in the third quarter valued at $616,000. 86.27% of the stock is owned by institutional investors and hedge funds.

About Garrett Motion

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.