Garrett Motion (NYSE:GTX) Stock Price Expected to Rise, BWS Financial Analyst Says

Key Points

• BWS Financial has raised its price target for Garrett Motion (NYSE:GTX) from $14.00 to $18.00, indicating a potential upside of 33.58% from its previous close.
• The stock currently has a "Moderate Buy" rating from analysts, with an average target price of $16.50 following recent research reports.
• Insider selling has occurred recently, with Centerbridge Credit Partners selling 9 million shares, reducing their stake by 65.5%.

Garrett Motion (NYSE:GTX - Get Free Report) had its price target lifted by stock analysts at BWS Financial from $14.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. BWS Financial's price target suggests a potential upside of 33.58% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Garrett Motion in a report on Friday, September 19th. They issued a "buy" rating and a $17.50 target price on the stock. BNP Paribas Exane assumed coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating and a $14.00 target price on the stock. Zacks Research cut shares of Garrett Motion from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, BNP Paribas started coverage on shares of Garrett Motion in a report on Wednesday, July 16th. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.50.

Garrett Motion Stock Performance

Shares of NYSE:GTX traded up $0.22 during trading on Tuesday, reaching $13.48. 755,435 shares of the stock traded hands, compared to its average volume of 2,240,143. The stock has a 50-day moving average of $13.03 and a two-hundred day moving average of $11.10. Garrett Motion has a 52-week low of $7.01 and a 52-week high of $14.01. The stock has a market cap of $2.72 billion, a P/E ratio of 10.61 and a beta of 0.27.

Insider Buying and Selling at Garrett Motion

In other news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the sale, the insider directly owned 4,740,569 shares in the company, valued at $58,166,781.63. This trade represents a 65.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the sale, the insider owned 20,009,945 shares in the company, valued at $265,732,069.60. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,324,101 shares of company stock worth $152,893,331 over the last 90 days. Insiders own 0.83% of the company's stock.

Institutional Trading of Garrett Motion

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of Garrett Motion during the 1st quarter valued at $42,000. Tower Research Capital LLC TRC bought a new stake in Garrett Motion in the 2nd quarter valued at $45,000. Amalgamated Bank bought a new stake in Garrett Motion in the 2nd quarter valued at $46,000. Caitong International Asset Management Co. Ltd increased its holdings in Garrett Motion by 4,655.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company's stock valued at $47,000 after acquiring an additional 4,423 shares during the last quarter. Finally, Vestcor Inc bought a new stake in Garrett Motion in the 1st quarter valued at $61,000. 86.27% of the stock is currently owned by 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.

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