Garrett Motion (NYSE:GTX – Get Free Report) had its target price boosted by BWS Financial from $14.00 to $18.00 in a research note issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. BWS Financial’s price objective suggests a potential upside of 31.00% from the company’s current price.
Several other analysts have also issued reports on GTX. BNP Paribas assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They issued an “outperform” rating on the stock. BNP Paribas Exane started coverage on Garrett Motion in a research note on Wednesday, July 16th. They issued an “outperform” rating and a $14.00 price objective on the stock. Stifel Nicolaus started coverage on Garrett Motion in a research note on Friday, September 19th. They set a “buy” rating and a $17.50 target price on the stock. Finally, Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.50.
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Garrett Motion Stock Up 0.9%
NYSE:GTX opened at $13.74 on Tuesday. The stock’s 50 day moving average price is $13.11 and its two-hundred day moving average price is $11.14. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 10.82 and a beta of 0.27. Garrett Motion has a 12-month low of $7.01 and a 12-month high of $14.01.
Insider Activity
In related news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the sale, the insider owned 4,740,569 shares in the company, valued at $58,166,781.63. The trade was a 65.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $13.28, for a total value of $4,655,516.48. Following the completion of the transaction, the insider directly owned 20,009,945 shares of the company’s stock, valued at approximately $265,732,069.60. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,272,236 shares of company stock worth $152,322,816 over the last ninety days. 0.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming boosted its position in shares of Garrett Motion by 184.6% during the 2nd quarter. State of Wyoming now owns 101,836 shares of the company’s stock valued at $1,070,000 after purchasing an additional 66,049 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Garrett Motion during the 2nd quarter valued at about $45,000. Oxford Asset Management LLP boosted its position in shares of Garrett Motion by 98.9% during the 2nd quarter. Oxford Asset Management LLP now owns 24,261 shares of the company’s stock valued at $255,000 after purchasing an additional 12,066 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in shares of Garrett Motion by 16.4% during the 2nd quarter. Garden State Investment Advisory Services LLC now owns 13,667 shares of the company’s stock valued at $144,000 after purchasing an additional 1,922 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in shares of Garrett Motion by 653.6% during the 2nd quarter. Engineers Gate Manager LP now owns 517,128 shares of the company’s stock valued at $5,435,000 after purchasing an additional 448,506 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.
Garrett Motion Company Profile
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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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