Garrett Motion (NYSE:GTX) Reaches New 12-Month High – Here’s Why

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

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and issued a $12.00 target price on shares of Garrett Motion in a research report on Tuesday.

Garrett Motion Stock Performance

The company’s 50 day moving average is $9.31 and its 200 day moving average is $8.56. The firm has a market cap of $2.02 billion, a P/E ratio of 7.76 and a beta of 1.15.

Garrett Motion Dividend Announcement

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

Institutional Trading of Garrett Motion

Institutional investors have recently modified their holdings of the business. Arizona State Retirement System raised its position in shares of Garrett Motion by 11.4% during the fourth quarter. Arizona State Retirement System now owns 25,362 shares of the company’s stock worth $229,000 after acquiring an additional 2,586 shares during the last quarter. Entropy Technologies LP raised its holdings in Garrett Motion by 17.0% during the 3rd quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock worth $147,000 after purchasing an additional 2,600 shares during the last quarter. Covestor Ltd acquired a new position in shares of Garrett Motion in the 3rd quarter worth approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Garrett Motion by 5.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,919 shares of the company’s stock valued at $653,000 after purchasing an additional 3,774 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Garrett Motion by 14.3% during the fourth quarter. HighTower Advisors LLC now owns 31,101 shares of the company’s stock worth $281,000 after buying an additional 3,880 shares during the period. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.