BWS Financial Reiterates Buy Rating for Garrett Motion (NYSE:GTX)

Garrett Motion (NYSE:GTX - Get Free Report)'s stock had its "buy" rating reissued by BWS Financial in a research note issued to investors on Monday, Benzinga reports. They currently have a $15.00 price target on the stock. BWS Financial's price objective would indicate a potential upside of 52.44% from the stock's current price.

Garrett Motion Stock Performance

Shares of NYSE GTX traded up $0.04 during midday trading on Monday, hitting $9.84. The company's stock had a trading volume of 753,142 shares, compared to its average volume of 1,035,001. Garrett Motion has a 1-year low of $6.43 and a 1-year high of $10.16. The firm's fifty day moving average price is $9.40 and its 200-day moving average price is $8.50. The firm has a market cap of $2.34 billion, a P/E ratio of -7.57 and a beta of 1.31.

Garrett Motion (NYSE:GTX - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The company had revenue of $945.00 million during the quarter, compared to the consensus estimate of $949.00 million. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. As a group, research analysts predict that Garrett Motion will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Cyrus Capital Partners, L.P. sold 29,860 shares of Garrett Motion stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $9.20, for a total value of $274,712.00. Following the sale, the insider now directly owns 29,527,284 shares in the company, valued at approximately $271,651,012.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Cyrus Capital Partners, L.P. sold 29,860 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $9.20, for a total value of $274,712.00. Following the completion of the transaction, the insider now directly owns 29,527,284 shares of the company's stock, valued at approximately $271,651,012.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of Garrett Motion stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $9.00, for a total value of $90,000,000.00. Following the sale, the insider now directly owns 15,236,484 shares in the company, valued at approximately $137,128,356. The disclosure for this sale can be found here. Insiders have sold 11,102,887 shares of company stock valued at $100,849,682 over the last three months. Company insiders own 37.08% of the company's stock.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors have recently bought and sold shares of GTX. Dark Forest Capital Management LP bought a new position in Garrett Motion during the first quarter valued at about $35,000. Comerica Bank boosted its position in shares of Garrett Motion by 238.0% during the 4th quarter. Comerica Bank now owns 3,677 shares of the company's stock valued at $36,000 after purchasing an additional 2,589 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Garrett Motion in the 2nd quarter worth approximately $37,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Garrett Motion in the 3rd quarter worth approximately $43,000. Finally, Barclays PLC lifted its stake in Garrett Motion by 888.6% during the second quarter. Barclays PLC now owns 6,505 shares of the company's stock valued at $49,000 after purchasing an additional 5,847 shares during the last quarter. Institutional investors and hedge funds 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.