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

BWS Financial reissued their buy rating on shares of Garrett Motion (NYSE:GTX) in a research note released on Friday morning,Benzinga reports. They currently have a $12.00 price target on the stock.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $7.34 on Friday. Garrett Motion has a 52-week low of $7.02 and a 52-week high of $10.39. The business’s 50 day simple moving average is $9.15 and its 200 day simple moving average is $8.72. The firm has a market cap of $1.50 billion, a PE ratio of 5.78 and a beta of 0.67.

Insider Buying and Selling

In related news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.41, for a total transaction of $4,893,200.00. Following the sale, the insider now owns 9,795,684 shares in the company, valued at approximately $92,177,386.44. This represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 1,457,412 shares of company stock worth $13,973,062. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company’s stock valued at $2,430,000 after buying an additional 136,600 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in Garrett Motion in the fourth quarter valued at $15,442,000. Assenagon Asset Management S.A. grew its position in shares of Garrett Motion by 32.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company’s stock valued at $1,755,000 after acquiring an additional 47,126 shares during the period. VELA Investment Management LLC acquired a new position in shares of Garrett Motion during the 4th quarter worth about $883,000. Finally, Readystate Asset Management LP bought a new position in Garrett Motion during the third quarter worth about $539,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.