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

Garrett Motion (NYSE:GTX)‘s stock had its “buy” rating reissued by equities research analysts at BWS Financial in a note issued to investors on Thursday,Benzinga reports. They currently have a $22.00 target price on the stock. BWS Financial’s target price suggests a potential upside of 13.74% from the stock’s previous close.

GTX has been the topic of a number of other research reports. JPMorgan Chase & Co. started coverage on Garrett Motion in a research report on Wednesday, December 17th. They set an “overweight” rating and a $23.00 price target on the stock. Zacks Research cut Garrett Motion from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Stifel Nicolaus upped their target price on Garrett Motion from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Freedom Capital upgraded Garrett Motion to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Garrett Motion Price Performance

Shares of GTX traded up $0.30 during midday trading on Thursday, hitting $19.34. The stock had a trading volume of 915,613 shares, compared to its average volume of 2,389,526. The company has a 50 day simple moving average of $18.82 and a two-hundred day simple moving average of $17.17. Garrett Motion has a twelve month low of $8.34 and a twelve month high of $21.42. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 15.23 and a beta of 0.44.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. Garrett Motion had a negative return on equity of 38.75% and a net margin of 8.12%.The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts forecast that Garrett Motion will post 1.25 EPS for the current fiscal year.

Insider Activity at Garrett Motion

In other news, SVP Daniel Deiro sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total transaction of $405,800.00. Following the completion of the sale, the senior vice president owned 160,994 shares in the company, valued at $3,266,568.26. This trade represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Olivier Rabiller sold 144,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the sale, the chief executive officer directly owned 905,546 shares in the company, valued at $18,400,694.72. The trade was a 13.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 337,000 shares of company stock valued at $6,839,290. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GTX. Global Retirement Partners LLC grew its position in Garrett Motion by 156.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 970 shares in the last quarter. D Orazio & Associates Inc. lifted its stake in Garrett Motion by 7.2% in the third quarter. D Orazio & Associates Inc. now owns 15,101 shares of the company’s stock worth $206,000 after purchasing an additional 1,015 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Garrett Motion by 971.2% during the fourth quarter. Spire Wealth Management now owns 1,489 shares of the company’s stock worth $26,000 after purchasing an additional 1,350 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Garrett Motion by 7,110.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company’s stock worth $25,000 after purchasing an additional 1,422 shares during the period. Finally, Baron Wealth Management LLC boosted its holdings in shares of Garrett Motion by 6.3% during the fourth quarter. Baron Wealth Management LLC now owns 26,446 shares of the company’s stock worth $461,000 after purchasing an additional 1,570 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

About Garrett Motion

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.