Garrett Motion (NYSE:GTX) Shares Gap Up – Time to Buy?

Garrett Motion Inc. (NYSE:GTX) shares gapped up before the market opened on Friday . The stock had previously closed at $8.03, but opened at $8.23. Garrett Motion shares last traded at $8.13, with a volume of 50,367 shares traded.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a report on Thursday, September 19th.

Garrett Motion Stock Up 2.1 %

The company has a 50-day moving average of $8.08 and a 200 day moving average of $8.79. The stock has a market capitalization of $1.79 billion, a PE ratio of 8.12 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $890.00 million during the quarter, compared to analyst estimates of $950.00 million. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. During the same quarter in the prior year, the firm earned ($1.88) earnings per share. As a group, equities analysts predict that Garrett Motion Inc. will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In other news, Director Julia Steyn sold 14,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $471,659.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Julia Steyn sold 14,000 shares of Garrett Motion stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total transaction of $122,780.00. Following the transaction, the director now owns 53,781 shares in the company, valued at $471,659.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the business’s 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 transaction, the insider now directly owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Institutional Trading of Garrett Motion

A number of hedge funds and other institutional investors have recently made changes to their positions in GTX. Quarry LP grew its position in Garrett Motion by 54.8% in the second quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after acquiring an additional 1,830 shares during the period. Pekin Hardy Strauss Inc. increased its position in shares of Garrett Motion by 2.2% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 94,850 shares of the company’s stock worth $815,000 after purchasing an additional 2,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Garrett Motion by 17.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock valued at $174,000 after buying an additional 2,933 shares during the period. Baker Ellis Asset Management LLC lifted its position in Garrett Motion by 1.7% in the second quarter. Baker Ellis Asset Management LLC now owns 236,353 shares of the company’s stock valued at $2,030,000 after buying an additional 3,981 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Garrett Motion during the second quarter worth about $67,000. 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.