Royal Bank of Canada set a $14.00 target price on Garrett Motion (NYSE:GTX) in a research note published on Wednesday, TipRanks reports. The firm currently has a hold rating on the stock.
Separately, Zacks Investment Research cut Garrett Motion from a hold rating to a sell rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average target price of $15.20.
Shares of GTX opened at $12.94 on Wednesday. The stock’s fifty day moving average price is $14.77. Garrett Motion has a 12-month low of $11.01 and a 12-month high of $22.00. The company has a market capitalization of $1.06 billion and a PE ratio of 3.20.
A number of hedge funds have recently bought and sold shares of GTX. Bank of New York Mellon Corp lifted its stake in Garrett Motion by 619.7% in the fourth quarter. Bank of New York Mellon Corp now owns 865,663 shares of the company’s stock valued at $10,682,000 after buying an additional 745,383 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Garrett Motion during the fourth quarter valued at $7,416,000. Bank of America Corp DE acquired a new position in shares of Garrett Motion during the fourth quarter valued at $5,352,000. Norges Bank acquired a new position in shares of Garrett Motion during the fourth quarter valued at $5,322,000. Finally, Northern Trust Corp increased its holdings in shares of Garrett Motion by 2,684.4% during the fourth quarter. Northern Trust Corp now owns 440,915 shares of the company’s stock valued at $5,441,000 after purchasing an additional 425,080 shares during the period. Institutional investors own 82.05% of the company’s stock.
Garrett Motion Company Profile
Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.
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