Garrett Motion (NYSE:GTX) Earns Buy Rating from BWS Financial

BWS Financial restated their buy rating on shares of Garrett Motion (NYSE:GTX) in a research report released on Friday, Benzinga reports. The brokerage currently has a $12.00 price objective on the stock.

Garrett Motion Stock Up 0.7 %

Shares of GTX opened at $7.44 on Friday. The business’s 50-day moving average price is $8.08 and its 200-day moving average price is $8.64. Garrett Motion has a twelve month low of $6.93 and a twelve month high of $10.16. The stock has a market cap of $1.63 billion, a PE ratio of 7.37 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last posted its 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. The business had revenue of $890.00 million for 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 posted ($1.88) EPS. Analysts expect that Garrett Motion will post 1.13 earnings per share for the current fiscal year.

Insider Activity at Garrett Motion

In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total value of $122,780.00. Following the sale, the director now owns 53,781 shares of the company’s stock, valued at $471,659.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Garrett Motion

Several institutional investors and hedge funds have recently made changes to their positions in the stock. William Blair Investment Management LLC increased its stake in Garrett Motion by 168.3% in the first quarter. William Blair Investment Management LLC now owns 6,888,152 shares of the company’s stock valued at $68,468,000 after acquiring an additional 4,320,406 shares during the last quarter. Lingotto Investment Management LLP purchased a new position in shares of Garrett Motion in the 2nd quarter worth about $6,872,000. Dimensional Fund Advisors LP increased its position in shares of Garrett Motion by 17.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock valued at $19,570,000 after purchasing an additional 335,472 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Garrett Motion during the 1st quarter valued at about $1,962,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Garrett Motion during the 3rd quarter valued at about $1,204,000. Hedge funds and other institutional investors 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.