Garrett Motion (NYSE:GTX) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Garrett Motion (NYSE:GTX) in a report released on Monday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $14.00 price target on the stock.

A number of other research analysts have also recently commented on the company. BNP Paribas Exane assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They issued an “outperform” rating and a $14.00 target price for the company. Zacks Research upgraded Garrett Motion from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Stifel Nicolaus assumed coverage on Garrett Motion in a research note on Friday, September 19th. They issued a “buy” rating and a $17.50 target price for the company. BNP Paribas assumed coverage on Garrett Motion in a research note on Wednesday, July 16th. They issued an “outperform” rating for the company. Finally, BWS Financial raised their target price on Garrett Motion from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Garrett Motion presently has a consensus rating of “Buy” and a consensus target price of $15.75.

Garrett Motion Price Performance

GTX opened at $12.51 on Monday. The stock’s 50 day simple moving average is $13.16 and its 200 day simple moving average is $11.60. Garrett Motion has a 1 year low of $7.01 and a 1 year high of $14.02. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 9.85 and a beta of 0.37.

Insiders Place Their Bets

In other Garrett Motion news, insider Centerbridge Credit Partners M sold 9,000,000 shares of Garrett Motion stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the completion of the transaction, the insider owned 4,740,569 shares in the company, valued at approximately $58,166,781.63. The trade was a 65.50% 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, major shareholder Cyrus Capital Partners, L.P. sold 1,300,000 shares of Garrett Motion stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $13.00, for a total value of $16,900,000.00. Following the transaction, the insider owned 21,128,348 shares of the company’s stock, valued at $274,668,524. The trade was a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,685,545 shares of company stock valued at $145,663,491 in the last quarter. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Deutsche Bank AG raised its stake in shares of Garrett Motion by 14.4% in the first quarter. Deutsche Bank AG now owns 9,383 shares of the company’s stock worth $79,000 after purchasing an additional 1,181 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Garrett Motion by 2.3% in the second quarter. Raymond James Financial Inc. now owns 77,365 shares of the company’s stock worth $813,000 after acquiring an additional 1,759 shares during the period. Garden State Investment Advisory Services LLC grew its holdings in shares of Garrett Motion by 16.4% in the second quarter. Garden State Investment Advisory Services LLC now owns 13,667 shares of the company’s stock worth $144,000 after acquiring an additional 1,922 shares during the period. Baron Wealth Management LLC grew its holdings in shares of Garrett Motion by 13.0% in the third quarter. Baron Wealth Management LLC now owns 24,876 shares of the company’s stock worth $339,000 after acquiring an additional 2,857 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Garrett Motion by 5.7% in the second quarter. Bank of Montreal Can now owns 58,021 shares of the company’s stock worth $610,000 after acquiring an additional 3,106 shares during the period. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.