Garrett Motion (NYSE:GTX) Now Covered by BNP Paribas Exane

Investment analysts at BNP Paribas Exane assumed coverage on shares of Garrett Motion (NYSE:GTX - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set an "outperform" rating and a $14.00 price target on the stock. BNP Paribas Exane's target price would indicate a potential upside of 20.69% from the company's previous close.

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

Garrett Motion Trading Down 1.6%

NYSE:GTX traded down $0.19 during midday trading on Wednesday, reaching $11.60. The company had a trading volume of 1,004,128 shares, compared to its average volume of 1,403,804. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 9.13 and a beta of 0.01. The stock's fifty day simple moving average is $10.85 and its 200-day simple moving average is $9.80. Garrett Motion has a 12-month low of $7.02 and a 12-month high of $12.09.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Centerbridge Credit Partners M sold 3,000,000 shares of Garrett Motion stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $10.30, for a total transaction 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 $91,731,903. The trade was a 25.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 1,196,526 shares of Garrett Motion stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $10.46, for a total value of $12,515,661.96. Following the sale, the insider directly owned 23,705,198 shares of the company's stock, valued at $247,956,371.08. This trade represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,931,210 shares of company stock valued at $51,694,564. 0.83% of the stock is currently owned by company insiders.

Institutional Trading of Garrett Motion

A number of institutional investors have recently bought and sold shares of the business. Gates Capital Management Inc. purchased a new stake in shares of Garrett Motion in the 4th quarter valued at about $40,068,000. New South Capital Management Inc. lifted its holdings in shares of Garrett Motion by 65.3% in 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 purchasing an additional 1,645,460 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Garrett Motion in the 1st quarter valued at about $12,945,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Garrett Motion in the 4th quarter valued at about $13,147,000. Finally, Prevatt Capital Ltd lifted its holdings in shares of Garrett Motion by 18.2% in the 4th 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. 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.