BWS Financial Weighs in on Garrett Motion Inc.’s Q1 2024 Earnings (NYSE:GTX)

Garrett Motion Inc. (NYSE:GTX) – Equities research analysts at BWS Financial dropped their Q1 2024 earnings estimates for shares of Garrett Motion in a report issued on Monday, April 8th. BWS Financial analyst H. Khorsand now expects that the company will post earnings per share of $0.22 for the quarter, down from their prior estimate of $0.24. BWS Financial currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Garrett Motion’s current full-year earnings is $1.05 per share. BWS Financial also issued estimates for Garrett Motion’s Q4 2024 earnings at $0.27 EPS and FY2024 earnings at $1.05 EPS.

Garrett Motion Stock Performance

NYSE:GTX opened at $9.50 on Thursday. The company has a 50-day moving average of $9.48 and a 200-day moving average of $8.55. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -7.31 and a beta of 1.31. Garrett Motion has a 52 week low of $6.43 and a 52 week high of $10.16.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $945.00 million during the quarter, compared to the consensus estimate of $949.00 million. Garrett Motion had a net margin of 6.72% and a negative return on equity of 49.01%.

Insider Transactions at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the sale, the insider now owns 29,327,284 shares in the company, valued at approximately $274,210,105.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $9.35, for a total transaction of $1,870,000.00. Following the completion of the sale, the insider now owns 29,327,284 shares in the company, valued at approximately $274,210,105.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the sale, the insider now owns 15,236,484 shares of the company’s stock, valued at approximately $137,128,356. The disclosure for this sale can be found here. In the last three months, insiders sold 11,161,193 shares of company stock valued at $101,430,410. Company insiders own 37.08% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

A number of hedge funds have recently made changes to their positions in the company. Dark Forest Capital Management LP acquired a new stake in Garrett Motion in the 1st quarter valued at about $35,000. Comerica Bank boosted its stake in shares of Garrett Motion by 238.0% in the 4th quarter. Comerica Bank now owns 3,677 shares of the company’s stock valued at $36,000 after purchasing an additional 2,589 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Garrett Motion in the 2nd quarter valued at about $37,000. DekaBank Deutsche Girozentrale bought a new position in shares of Garrett Motion in the 3rd quarter valued at about $43,000. Finally, Barclays PLC boosted its stake in shares of Garrett Motion by 888.6% in the 2nd quarter. Barclays PLC now owns 6,505 shares of the company’s stock valued at $49,000 after purchasing an additional 5,847 shares during the last quarter. Institutional investors and hedge funds 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.