BWS Financial restated their buy rating on shares of Garrett Motion (NYSE:GTX - Free Report) in a research note published on Friday morning,Benzinga reports. The firm currently has a $12.00 target price on the stock.
Garrett Motion Stock Performance
Shares of GTX stock traded up $0.60 during mid-day trading on Friday, reaching $8.54. 889,174 shares of the company's stock traded hands, compared to its average volume of 963,618. The firm has a market capitalization of $1.75 billion, a PE ratio of 6.78 and a beta of 0.67. The firm has a 50 day moving average price of $9.06 and a two-hundred day moving average price of $8.71. Garrett Motion has a 12 month low of $7.02 and a 12 month high of $10.39.
Insider Buying and Selling
In related news, major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.41, for a total transaction of $4,893,200.00. Following the completion of the sale, the insider now owns 9,795,684 shares in the company, valued at approximately $92,177,386.44. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,457,412 shares of company stock valued at $13,973,062. 0.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Garrett Motion
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after buying an additional 136,600 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. bought a new position in Garrett Motion during the fourth quarter valued at $15,442,000. Assenagon Asset Management S.A. increased its holdings in shares of Garrett Motion by 32.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after buying an additional 47,126 shares during the last quarter. VELA Investment Management LLC bought a new position in shares of Garrett Motion in the 4th quarter valued at about $883,000. Finally, Readystate Asset Management LP purchased a new position in Garrett Motion in the third quarter worth about $539,000. Institutional investors own 86.27% of the company's stock.
Garrett Motion Company Profile
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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.
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