BWS Financial Boosts Garrett Motion (NYSE:GTX) Price Target to $14.00

Garrett Motion (NYSE:GTX - Free Report) had its price objective upped by BWS Financial from $12.00 to $14.00 in a report released on Friday,Benzinga reports. BWS Financial currently has a buy rating on the stock.

Garrett Motion Stock Up 0.8 %

Shares of GTX stock traded up $0.09 on Friday, reaching $11.35. The company had a trading volume of 802,035 shares, compared to its average volume of 1,055,496. The stock has a market capitalization of $2.31 billion, a PE ratio of 8.93 and a beta of -0.05. The business's 50-day moving average is $8.99 and its 200 day moving average is $8.89. Garrett Motion has a one year low of $7.02 and a one year high of $11.45.

Garrett Motion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, June 2nd. Garrett Motion's payout ratio is 18.60%.

Insider Buying and Selling

In related news, major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00. Following the transaction, the insider now directly owns 25,434,957 shares in the company, valued at $228,914,613. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business's stock in a transaction 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 sale, the insider now owns 10,395,183 shares of the company's stock, valued at $103,328,119.02. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,109,853 shares of company stock worth $28,920,153 in the last 90 days. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Quarry LP lifted its position in Garrett Motion by 180.3% in the 4th quarter. Quarry LP now owns 7,755 shares of the company's stock valued at $70,000 after acquiring an additional 4,988 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Garrett Motion by 185.5% in the fourth quarter. Deutsche Bank AG now owns 8,202 shares of the company's stock valued at $74,000 after purchasing an additional 5,329 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Garrett Motion during the fourth quarter valued at approximately $96,000. KLP Kapitalforvaltning AS bought a new stake in Garrett Motion during the fourth quarter worth $133,000. Finally, Pacific Global Investment Management Co. purchased a new stake in Garrett Motion in the 4th quarter valued at $150,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

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.