Garrett Motion (NASDAQ:GTX) Price Target Raised to $37.00 at JPMorgan Chase & Co.

Garrett Motion (NASDAQ:GTX) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $33.00 to $37.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.26% from the company’s current price.

GTX has been the subject of several other research reports. Royal Bank Of Canada set a $42.00 price target on Garrett Motion in a research note on Thursday, May 21st. Freedom Capital downgraded Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Garrett Motion in a report on Friday, July 24th. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, BWS Financial reaffirmed a “buy” rating and set a $42.00 target price on shares of Garrett Motion in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Garrett Motion Price Performance

Shares of GTX stock traded down $0.55 on Monday, hitting $29.30. The company’s stock had a trading volume of 1,391,741 shares, compared to its average volume of 2,575,032. Garrett Motion has a fifty-two week low of $12.26 and a fifty-two week high of $36.25. The firm’s fifty day moving average price is $32.39 and its 200-day moving average price is $25.34. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 0.79 and a beta of 0.82.

Garrett Motion (NASDAQ:GTX) last posted its earnings results on Thursday, July 30th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The firm had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Analysts predict that Garrett Motion will post 1.86 EPS for the current fiscal year.

Insider Activity

In other Garrett Motion news, CFO Sean Deason sold 110,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.93, for a total transaction of $3,512,300.00. Following the completion of the sale, the chief financial officer directly owned 261,909 shares in the company, valued at $8,362,754.37. This represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Albert Rodrigues sold 6,140 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the sale, the senior vice president directly owned 77,038 shares in the company, valued at approximately $2,565,365.40. This represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 213,834 shares of company stock valued at $6,918,710 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Garrett Motion

Hedge funds have recently added to or reduced their stakes in the business. Convergence Investment Partners LLC raised its position in Garrett Motion by 0.9% in the first quarter. Convergence Investment Partners LLC now owns 45,952 shares of the company’s stock worth $835,000 after purchasing an additional 423 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Garrett Motion by 22.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,450 shares of the company’s stock valued at $63,000 after purchasing an additional 629 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Garrett Motion during the second quarter valued at approximately $27,000. Baron Wealth Management LLC grew its stake in shares of Garrett Motion by 3.3% in the 1st quarter. Baron Wealth Management LLC now owns 27,324 shares of the company’s stock valued at $496,000 after purchasing an additional 878 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of Garrett Motion by 156.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after buying an additional 970 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

About Garrett Motion

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.