Garrett Motion (NYSE:GTX) Receives “Buy” Rating from BWS Financial

BWS Financial reissued their buy rating on shares of Garrett Motion (NYSE:GTX) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $12.00 price target on the stock.

Garrett Motion Price Performance

Shares of GTX opened at $7.34 on Friday. Garrett Motion has a 1-year low of $7.02 and a 1-year high of $10.39. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 5.78 and a beta of 0.67. The firm has a 50 day simple moving average of $9.15 and a 200-day simple moving average of $8.71.

Insider Transactions at Garrett Motion

In other news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of Garrett Motion 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 directly owns 9,795,684 shares in the company, valued at $92,177,386.44. The trade was a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 1,457,412 shares of company stock valued at $13,973,062 over the last three months. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Garrett Motion

A number of hedge funds have recently bought and sold shares of GTX. Gates Capital Management Inc. acquired a new position in Garrett Motion in the 4th quarter valued at $40,068,000. Prevatt Capital Ltd increased its stake in 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 purchasing an additional 500,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Garrett Motion by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company’s stock worth $25,886,000 after buying an additional 278,107 shares during the period. Gamco Investors INC. ET AL boosted its stake in Garrett Motion by 6.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company’s stock worth $19,536,000 after buying an additional 130,873 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in Garrett Motion by 25.6% in the 4th quarter. Royce & Associates LP now owns 2,072,173 shares of the company’s stock valued at $18,712,000 after buying an additional 422,955 shares during the period. Institutional investors and hedge funds 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.