Garrett Motion (NYSE:GTX) Given “Buy” Rating at BWS Financial

BWS Financial reiterated their buy rating on shares of Garrett Motion (NYSE:GTX) in a report released on Monday, Benzinga reports. The brokerage currently has a $15.00 price target on the stock. BWS Financial also issued estimates for Garrett Motion’s Q1 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.27 EPS and FY2024 earnings at $1.05 EPS.

Garrett Motion Trading Down 0.8 %

Shares of NYSE GTX opened at $9.85 on Monday. The business has a fifty day simple moving average of $9.46 and a 200 day simple moving average of $8.54. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -7.58 and a beta of 1.31. Garrett Motion has a one year low of $6.43 and a one year high of $10.16.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, February 15th. The company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $945.00 million during the quarter, compared to analyst estimates of $949.00 million. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. On average, research analysts anticipate that Garrett Motion will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the transaction, the insider now directly owns 29,327,284 shares in the company, valued at $274,210,105.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the transaction, the insider now directly owns 29,327,284 shares in the company, valued at $274,210,105.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $9.00, for a total value of $90,000,000.00. Following the completion of the sale, the insider now owns 15,236,484 shares of the company’s stock, valued at $137,128,356. The disclosure for this sale can be found here. Insiders sold 11,161,193 shares of company stock worth $101,430,410 over the last three months. 37.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Garrett Motion

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Garrett Motion by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 2,423,339 shares of the company’s stock valued at $23,434,000 after buying an additional 199,195 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Garrett Motion by 53.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 109,905 shares of the company’s stock valued at $1,063,000 after buying an additional 38,256 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Garrett Motion in the fourth quarter valued at $177,000. Findell Capital Management LLC acquired a new stake in shares of Garrett Motion in the fourth quarter valued at $6,875,000. Finally, FIL Ltd acquired a new stake in shares of Garrett Motion in the fourth quarter valued at $4,627,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

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.