Garrett Motion (NASDAQ:GTX – Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $30.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 2.64% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 target price on shares of Garrett Motion in a research note on Friday, May 1st. Stifel Nicolaus upped their target price on Garrett Motion from $29.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings began coverage on Garrett Motion in a report on Wednesday, April 29th. They issued a “buy (b)” rating for the company. BWS Financial upped their price objective on shares of Garrett Motion from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Freedom Capital lowered shares of Garrett Motion from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.80.
Get Our Latest Stock Analysis on Garrett Motion
Garrett Motion Price Performance
Garrett Motion (NASDAQ:GTX – Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. Garrett Motion had a net margin of 9.29% and a negative return on equity of 42.77%. The company had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $917.23 million. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, sell-side analysts anticipate that Garrett Motion will post 1.81 EPS for the current year.
Insiders Place Their Bets
In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $19.86, for a total transaction 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 trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Daniel Deiro sold 20,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $20.29, for a total transaction of $405,800.00. Following the transaction, the senior vice president directly owned 160,994 shares of the company’s stock, valued at approximately $3,266,568.26. This trade represents a 11.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 337,000 shares of company stock valued at $6,839,290 over the last 90 days. 1.10% of the stock is owned by company insiders.
Institutional Trading of Garrett Motion
Hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. lifted its position 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 in the last quarter. Spire Wealth Management lifted its position 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 in the last quarter. Global Retirement Partners LLC lifted its position in shares of Garrett Motion by 156.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the company’s stock worth $28,000 after purchasing an additional 970 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Garrett Motion by 1,422.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company’s stock worth $30,000 after purchasing an additional 1,593 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Garrett Motion by 361.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,821 shares of the company’s stock worth $49,000 after purchasing an additional 2,210 shares in the last quarter. Institutional investors and hedge funds 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.
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