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

Shares of Garrett Motion Inc. (NYSE:GTX) were up 6.5% 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.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and set a $12.00 target price on shares of Garrett Motion in a report on Friday, April 4th.

Garrett Motion Trading Up 9.8 %

The firm has a market capitalization of $1.79 billion, a PE ratio of 6.87 and a beta of 0.67. The business’s 50 day simple moving average is $9.02 and its two-hundred day simple moving average is $8.72.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34. Following the transaction, the insider now owns 10,395,183 shares of the company’s stock, valued at $103,328,119.02. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,457,412 shares of company stock valued at $13,973,062. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

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

About Garrett Motion

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.