Garrett Motion (NYSE:GTX) Raised to “Strong-Buy” at Freedom Capital

Garrett Motion (NYSE:GTX) was upgraded by equities researchers at Freedom Capital to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Garrett Motion from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Stifel Nicolaus lifted their price target on Garrett Motion from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. JPMorgan Chase & Co. initiated 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. Finally, BWS Financial lifted their price target on Garrett Motion from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Garrett Motion presently has an average rating of “Moderate Buy” and an average target price of $18.80.

Garrett Motion Trading Up 4.2%

Shares of GTX stock traded up $0.77 during trading hours on Monday, reaching $18.87. The company’s stock had a trading volume of 415,273 shares, compared to its average volume of 2,385,364. The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.84 and a beta of 0.44. Garrett Motion has a one year low of $7.84 and a one year high of $21.42. The firm’s fifty day simple moving average is $18.80 and its 200 day simple moving average is $17.15.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.42 earnings per share 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 business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Garrett Motion will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, CEO Olivier Rabiller sold 144,000 shares of Garrett Motion stock in a transaction on Friday, February 27th. The stock was sold at an average price of $20.32, for a total transaction of $2,926,080.00. Following the completion of the transaction, the chief executive officer owned 905,546 shares in the company, valued at approximately $18,400,694.72. The trade was a 13.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julia Steyn sold 17,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total value of $337,620.00. Following the completion of the transaction, the director owned 50,233 shares of the company’s stock, valued at $997,627.38. This represents a 25.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 337,000 shares of company stock worth $6,839,290. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. purchased a new position in shares of Garrett Motion in the third quarter worth $5,925,000. Convergence Investment Partners LLC purchased a new position in shares of Garrett Motion in the third quarter worth $1,573,000. JPMorgan Chase & Co. boosted its holdings in Garrett Motion by 45.1% in the third quarter. JPMorgan Chase & Co. now owns 1,705,484 shares of the company’s stock worth $23,229,000 after purchasing an additional 529,949 shares during the last quarter. Federated Hermes Inc. bought a new stake in Garrett Motion in the 3rd quarter worth approximately $1,646,000. Finally, Renaissance Group LLC bought a new stake in Garrett Motion in the 3rd quarter worth approximately $1,156,000. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.