Deutsche Bank Aktiengesellschaft Begins Coverage on Garrett Motion (NYSE:GTX)

Key Points

• Deutsche Bank Aktiengesellschaft initiated coverage on Garrett Motion (NYSE:GTX) with a "hold" rating and a price target of $14.00, indicating a potential upside of 9.80% from the current price.
• Analysts have given Garrett Motion a consensus rating of "Buy" with an average price target of $15.88, reflecting positive sentiment on the stock's performance.
• Significant insider selling occurred, with Centerbridge Credit Partners M divesting 9 million shares, resulting in a 65.5% decrease in their position.

Deutsche Bank Aktiengesellschaft started coverage on shares of Garrett Motion (NYSE:GTX - Get Free Report) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a "hold" rating and a $14.00 price target on the stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 9.80% from the company's previous close.

GTX has been the topic of several other research reports. Zacks Research raised shares of Garrett Motion from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. BNP Paribas Exane began coverage on shares of Garrett Motion in a research note on Wednesday, July 16th. They issued an "outperform" rating and a $14.00 target price for the company. Stifel Nicolaus initiated coverage on shares of Garrett Motion in a research report on Friday, September 19th. They set a "buy" rating and a $17.50 price objective for the company. BNP Paribas initiated coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They issued an "outperform" rating for the company. Finally, BWS Financial increased their target price on shares of Garrett Motion from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.88.

Garrett Motion Price Performance

Shares of GTX opened at $12.75 on Monday. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 10.04 and a beta of 0.37. The company has a 50-day moving average of $13.16 and a 200 day moving average of $11.55. Garrett Motion has a 1-year low of $7.01 and a 1-year high of $14.02.

Insider Buying and Selling at Garrett Motion

In related news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total value of $110,430,000.00. Following the completion of the sale, the insider owned 4,740,569 shares in the company, valued at $58,166,781.63. This represents a 65.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the transaction, the insider directly owned 20,009,945 shares in the company, valued at approximately $265,732,069.60. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,744,374 shares of company stock valued at $146,357,673. 0.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Garrett Motion

A number of large investors have recently made changes to their positions in GTX. Blue Trust Inc. increased its holdings in Garrett Motion by 254.7% during the 3rd quarter. Blue Trust Inc. now owns 6,190 shares of the company's stock valued at $84,000 after acquiring an additional 4,445 shares in the last quarter. CWM LLC increased its holdings in Garrett Motion by 571.7% during the 3rd quarter. CWM LLC now owns 13,609 shares of the company's stock valued at $185,000 after acquiring an additional 11,583 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Garrett Motion during the third quarter worth about $10,705,000. State of Wyoming grew its holdings in shares of Garrett Motion by 184.6% during the second quarter. State of Wyoming now owns 101,836 shares of the company's stock worth $1,070,000 after buying an additional 66,049 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Garrett Motion during the second quarter worth about $45,000. Hedge funds and other institutional investors own 86.27% of the company's stock.

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.

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