Garrett Motion (NYSE:GTX) Trading 6.5% Higher – Still a Buy?

Garrett Motion Inc. (NYSE:GTX)’s stock price was up 6.5% during trading on Monday . The stock traded as high as $7.94 and last traded at $7.82. Approximately 776,227 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 945,345 shares. The stock had previously closed at $7.34.

Analyst Upgrades and Downgrades

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

Garrett Motion Stock Performance

The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 6.35 and a beta of 0.67. The business has a 50-day moving average of $9.12 and a 200-day moving average of $8.72.

Insider Activity

In other news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.41, for a total transaction of $4,893,200.00. Following the completion of the sale, the insider now owns 9,795,684 shares in the company, valued at approximately $92,177,386.44. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 1,457,412 shares of company stock valued at $13,973,062. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Garrett Motion

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTX. California State Teachers Retirement System grew its stake in shares of Garrett Motion by 9.2% in the 4th quarter. California State Teachers Retirement System now owns 75,376 shares of the company’s stock valued at $681,000 after purchasing an additional 6,326 shares during the last quarter. PharVision Advisers LLC purchased a new position in Garrett Motion in the 4th quarter valued at $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Garrett Motion by 10.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,098 shares of the company’s stock valued at $1,265,000 after buying an additional 13,363 shares during the period. State of Wyoming lifted its stake in shares of Garrett Motion by 34.4% in the 4th quarter. State of Wyoming now owns 73,968 shares of the company’s stock worth $668,000 after acquiring an additional 18,946 shares during the period. Finally, Prevatt Capital Ltd boosted its holdings in shares of Garrett Motion by 18.2% in the fourth quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock valued at $29,348,000 after acquiring an additional 500,000 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.

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.