Garrett Motion (NYSE:GTX) Earns Buy Rating from BWS Financial

Garrett Motion (NYSE:GTX)‘s stock had its “buy” rating reissued by equities research analysts at BWS Financial in a report issued on Friday,Benzinga reports. They currently have a $12.00 price target on the stock. BWS Financial’s target price suggests a potential upside of 63.49% from the company’s previous close.

Garrett Motion Stock Performance

Shares of NYSE:GTX opened at $7.34 on Friday. The company has a market capitalization of $1.50 billion, a P/E ratio of 5.78 and a beta of 0.67. The company’s 50-day moving average is $9.15 and its 200 day moving average is $8.71. Garrett Motion has a fifty-two week low of $7.02 and a fifty-two week high of $10.39.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.96, for a total value of $3,479,535.96. Following the completion of the sale, the insider now directly owns 10,098,173 shares of the company’s stock, valued at $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 1,457,412 shares of company stock worth $13,973,062 over the last three months. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP raised its stake in Garrett Motion by 180.3% in the 4th quarter. Quarry LP now owns 7,755 shares of the company’s stock valued at $70,000 after acquiring an additional 4,988 shares during the period. Deutsche Bank AG boosted its position in Garrett Motion by 185.5% during the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company’s stock worth $74,000 after purchasing an additional 5,329 shares during the period. Savant Capital LLC purchased a new position in shares of Garrett Motion in the fourth quarter worth about $96,000. Paloma Partners Management Co bought a new stake in shares of Garrett Motion in the third quarter valued at approximately $87,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Garrett Motion during the 4th quarter valued at approximately $133,000. 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.