Garrett Motion (NYSE:GTX) Earns Outperform Rating from Analysts at BNP Paribas Exane

Investment analysts at BNP Paribas Exane started coverage on shares of Garrett Motion (NYSE:GTX - Get Free Report) in a research note issued on Wednesday, MarketBeat reports. The firm set an "outperform" rating and a $14.00 price target on the stock. BNP Paribas Exane's target price would suggest a potential upside of 18.74% from the stock's current price.

Separately, BWS Financial reiterated a "buy" rating and set a $14.00 target price on shares of Garrett Motion in a research note on Wednesday, June 25th.

Garrett Motion Price Performance

Shares of GTX stock remained flat at $11.79 during mid-day trading on Wednesday. The company's stock had a trading volume of 1,724,476 shares, compared to its average volume of 1,397,695. The firm's 50-day moving average price is $10.84 and its two-hundred day moving average price is $9.76. The company has a market capitalization of $2.39 billion, a PE ratio of 9.28 and a beta of 0.01. Garrett Motion has a 12 month low of $7.02 and a 12 month high of $12.09.

Insider Buying and Selling

In other Garrett Motion news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $10.30, for a total value of $30,900,000.00. Following the completion of the sale, the insider directly owned 8,906,010 shares of the company's stock, valued at approximately $91,731,903. The trade was a 25.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of Garrett Motion stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $10.46, for a total transaction of $12,515,661.96. Following the completion of the sale, the insider directly owned 23,705,198 shares of the company's stock, valued at $247,956,371.08. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,854,287 shares of company stock valued at $50,795,231. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Garrett Motion

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gates Capital Management Inc. grew its stake in Garrett Motion by 53.1% in the 1st quarter. Gates Capital Management Inc. now owns 6,795,553 shares of the company's stock worth $56,879,000 after acquiring an additional 2,358,294 shares during the period. New South Capital Management Inc. grew its stake in shares of Garrett Motion by 65.3% during the 1st quarter. New South Capital Management Inc. now owns 4,164,333 shares of the company's stock valued at $34,855,000 after buying an additional 1,645,460 shares during the period. Prevatt Capital Ltd grew its stake in shares of Garrett Motion by 18.2% during the 4th 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. Dimensional Fund Advisors LP grew its stake in shares of Garrett Motion by 10.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company's stock valued at $25,886,000 after buying an additional 278,107 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Garrett Motion by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,304,014 shares of the company's stock valued at $19,285,000 after buying an additional 62,844 shares during the period. 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.