Garrett Motion’s (GTX) “Buy” Rating Reiterated at BWS Financial

BWS Financial reiterated their buy rating on shares of Garrett Motion (NYSE:GTX) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

Garrett Motion Trading Down 2.3 %

NYSE GTX opened at $9.76 on Tuesday. The stock has a 50 day moving average of $9.34 and a 200-day moving average of $8.58. Garrett Motion has a 12 month low of $7.13 and a 12 month high of $10.39. The company has a market cap of $2.00 billion, a PE ratio of 7.69 and a beta of 1.15.

Garrett Motion Announces Dividend

The firm also recently declared a — dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a dividend of $0.06 per share. This represents a yield of 2.7%. The ex-dividend date was Wednesday, January 15th. Garrett Motion’s payout ratio is currently 18.90%.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34. Following the completion of the transaction, the insider now directly owns 10,395,183 shares of the company’s stock, valued at $103,328,119.02. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Garrett Motion

Several large investors have recently modified their holdings of the stock. Gates Capital Management Inc. bought a new position in Garrett Motion in the 4th quarter valued at about $40,068,000. Prevatt Capital Ltd increased its position in Garrett Motion by 18.2% during the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock worth $29,348,000 after buying an additional 500,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Garrett Motion by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,866,826 shares of the company’s stock worth $25,886,000 after buying an additional 278,107 shares in the last quarter. New South Capital Management Inc. boosted its position in shares of Garrett Motion by 19.0% in the third quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after acquiring an additional 431,779 shares during the period. Finally, Gamco Investors INC. ET AL grew its stake in shares of Garrett Motion by 6.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,163,439 shares of the company’s stock valued at $19,536,000 after acquiring an additional 130,873 shares in the last quarter. 86.27% of the stock is owned by institutional investors.

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.