Garrett Motion (NYSE:GTX) Given Buy Rating at BWS Financial

BWS Financial reiterated their buy rating on shares of Garrett Motion (NYSE:GTX) in a research report report published on Thursday morning, Benzinga reports. They currently have a $12.00 target price on the stock.

Garrett Motion Trading Down 0.4 %

GTX opened at $8.10 on Thursday. The company has a market cap of $1.83 billion, a P/E ratio of -7.04 and a beta of 1.15. The company’s 50 day moving average is $8.38 and its 200-day moving average is $8.95. Garrett Motion has a 1-year low of $6.43 and a 1-year high of $10.16.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. The firm had revenue of $890.00 million for the quarter, compared to analyst estimates of $950.00 million. During the same quarter last year, the business posted ($1.88) earnings per share. On average, equities analysts forecast that Garrett Motion will post 1.17 EPS for the current year.

Insider Activity

In other news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total value of $37,827.79. Following the completion of the transaction, the insider now owns 27,337,398 shares of the company’s stock, valued at $273,647,353.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of Garrett Motion stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total transaction of $122,780.00. Following the transaction, the director now directly owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $10.01, for a total value of $37,827.79. Following the completion of the sale, the insider now owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Garrett Motion by 3,801.4% during the 4th quarter. BNP Paribas Financial Markets now owns 59,887 shares of the company’s stock worth $579,000 after purchasing an additional 58,352 shares during the last quarter. Corient Private Wealth LLC bought a new position in Garrett Motion during the fourth quarter worth $3,573,000. Aigen Investment Management LP acquired a new position in Garrett Motion in the fourth quarter valued at $290,000. Global Endowment Management LP bought a new stake in Garrett Motion during the fourth quarter valued at $1,051,000. Finally, Prevatt Capital Ltd acquired a new stake in Garrett Motion during the 4th quarter worth about $24,188,000. 86.27% of the stock is owned by institutional investors and hedge funds.

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.