Garrett Motion (NYSE:GTX) Earns "Buy" Rating from BWS Financial

BWS Financial restated their buy rating on shares of Garrett Motion (NYSE:GTX - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a $14.00 price target on the stock.

Garrett Motion Trading Up 3.6%

Shares of GTX traded up $0.36 during trading hours on Wednesday, hitting $10.29. The company had a trading volume of 1,449,819 shares, compared to its average volume of 1,240,455. The company has a market capitalization of $2.08 billion, a PE ratio of 8.10 and a beta of 0.02. Garrett Motion has a one year low of $7.02 and a one year high of $12.09. The company's fifty day moving average price is $10.45 and its two-hundred day moving average price is $9.57.

Garrett Motion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, June 2nd. Garrett Motion's dividend payout ratio is currently 18.60%.

Insider Activity at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 155,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $11.25, for a total value of $1,743,750.00. Following the completion of the transaction, the insider now directly owns 25,151,724 shares of the company's stock, valued at $282,956,895. This trade represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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 now owns 8,906,010 shares of the company's stock, valued at $91,731,903. This trade represents a 25.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,807,441 shares of company stock valued at $47,590,841 over the last 90 days. Insiders own 0.83% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GTX. Raymond James Financial Inc. acquired a new position in shares of Garrett Motion in the 4th quarter valued at $326,000. VELA Investment Management LLC acquired a new position in shares of Garrett Motion in the fourth quarter valued at about $883,000. Sterling Capital Management LLC increased its holdings in shares of Garrett Motion by 41.1% in the fourth quarter. Sterling Capital Management LLC now owns 233,895 shares of the company's stock valued at $2,112,000 after purchasing an additional 68,093 shares during the period. First Trust Advisors LP raised its stake in shares of Garrett Motion by 105.1% in the fourth quarter. First Trust Advisors LP now owns 226,506 shares of the company's stock worth $2,045,000 after purchasing an additional 116,086 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Garrett Motion by 18.6% during the fourth quarter. Northern Trust Corp now owns 369,976 shares of the company's stock worth $3,341,000 after purchasing an additional 58,045 shares during the period. Hedge funds and other institutional investors own 86.27% of the company's stock.

About Garrett Motion

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.