Garrett Motion’s (GTX) Buy Rating Reiterated at BWS Financial

BWS Financial reiterated their buy rating on shares of Garrett Motion (NYSE:GTX) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $12.00 price target on the stock.

Garrett Motion Trading Down 0.4 %

NYSE:GTX opened at $8.10 on Thursday. The firm has a fifty day simple moving average of $8.38 and a two-hundred day simple moving average of $8.95. Garrett Motion has a 12 month low of $6.43 and a 12 month high of $10.16. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -7.04 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. The business had revenue of $890.00 million for the quarter, compared to the consensus estimate of $950.00 million. During the same period in the prior year, the business earned ($1.88) EPS. Equities analysts predict that Garrett Motion will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of Garrett Motion stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $10.01, for a total transaction of $37,827.79. Following the completion of the transaction, the insider now directly owns 27,337,398 shares in the company, valued at $273,647,353.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Julia Steyn sold 14,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total value of $122,780.00. Following the completion of the sale, the director now directly owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of Garrett Motion stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the transaction, the insider now directly owns 27,337,398 shares in the company, valued at $273,647,353.98. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GTX. Quarry LP grew its position in Garrett Motion by 54.8% in the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after purchasing an additional 1,830 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Garrett Motion in the second quarter valued at approximately $67,000. Caprock Group LLC bought a new stake in Garrett Motion during the second quarter worth $103,000. Prairiewood Capital LLC purchased a new position in Garrett Motion in the first quarter worth $135,000. Finally, SG Americas Securities LLC bought a new position in Garrett Motion in the 2nd quarter valued at $118,000. 86.27% of the stock is 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.