Garrett Motion (NYSE:GTX) Sets New 12-Month High – Time to Buy?

Garrett Motion Inc. (NYSE:GTX)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $10.39 and last traded at $9.73, with a volume of 40625 shares changing hands. The stock had previously closed at $9.88.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and set a $12.00 target price on shares of Garrett Motion in a report on Wednesday, January 22nd.

Garrett Motion Stock Down 3.0 %

The stock’s fifty day simple moving average is $9.30 and its two-hundred day simple moving average is $8.54. The firm has a market cap of $2.05 billion, a PE ratio of 7.54 and a beta of 1.15.

Garrett Motion Announces Dividend

The business also recently disclosed a — dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were given a dividend of $0.06 per share. This represents a yield of 2.7%. The ex-dividend date was Wednesday, January 15th. Garrett Motion’s dividend payout ratio (DPR) is presently 18.90%.

Institutional Investors Weigh In On Garrett Motion

Several hedge funds have recently added to or reduced their stakes in GTX. Arizona State Retirement System raised its stake in Garrett Motion by 11.4% during the 4th quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock valued at $229,000 after buying an additional 2,586 shares during the last quarter. Entropy Technologies LP increased its holdings in Garrett Motion by 17.0% during the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock valued at $147,000 after buying an additional 2,600 shares during the last quarter. Covestor Ltd bought a new position in Garrett Motion in the third quarter worth approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Garrett Motion by 5.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company’s stock worth $653,000 after acquiring an additional 3,774 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Garrett Motion by 14.3% during the 4th quarter. HighTower Advisors LLC now owns 31,101 shares of the company’s stock valued at $281,000 after acquiring an additional 3,880 shares during the period. 86.27% of the stock is owned by institutional investors.

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.