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 research note published on Monday, Benzinga reports. The brokerage currently has a $15.00 target price 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 %

NYSE:GTX opened at $9.85 on Monday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -7.58 and a beta of 1.31. The company’s 50-day moving average is $9.46 and its two-hundred day moving average is $8.54. Garrett Motion has a 12-month low of $6.43 and a 12-month high of $10.16.

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

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $10.03, for a total value of $2,006,000.00. Following the transaction, the insider now directly owns 28,267,284 shares in the company, valued at approximately $283,520,858.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the transaction, the insider now directly owns 15,236,484 shares in the company, valued at approximately $137,128,356. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $10.03, for a total transaction of $2,006,000.00. Following the transaction, the insider now owns 28,267,284 shares in the company, valued at $283,520,858.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,161,193 shares of company stock worth $101,430,410. Corporate insiders own 37.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GTX. Dark Forest Capital Management LP purchased a new position in shares of Garrett Motion during the 1st quarter worth about $35,000. Comerica Bank raised its holdings in Garrett Motion by 238.0% in the fourth quarter. Comerica Bank now owns 3,677 shares of the company’s stock valued at $36,000 after buying an additional 2,589 shares during the period. Quantbot Technologies LP purchased a new position in Garrett Motion in the second quarter valued at approximately $37,000. DekaBank Deutsche Girozentrale purchased a new position in Garrett Motion in the third quarter valued at approximately $43,000. Finally, Barclays PLC raised its holdings in Garrett Motion by 888.6% in the second quarter. Barclays PLC now owns 6,505 shares of the company’s stock valued at $49,000 after buying an additional 5,847 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, 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.