Captrust Financial Advisors Increases Stock Position in Garmin Ltd. (NYSE:GRMN)

Captrust Financial Advisors raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 767,729 shares of the scientific and technical instruments company’s stock after buying an additional 30,011 shares during the quarter. Captrust Financial Advisors owned about 0.40% of Garmin worth $135,143,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cetera Investment Advisers raised its position in shares of Garmin by 51.7% in the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock worth $4,227,000 after purchasing an additional 9,681 shares during the last quarter. Citigroup Inc. raised its position in shares of Garmin by 123.2% in the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after purchasing an additional 156,441 shares during the last quarter. Algert Global LLC purchased a new position in shares of Garmin in the 2nd quarter worth about $508,000. Dynamic Advisor Solutions LLC purchased a new position in shares of Garmin in the 3rd quarter worth about $695,000. Finally, Trajan Wealth LLC raised its position in shares of Garmin by 9.1% in the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after purchasing an additional 6,878 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of several recent analyst reports. Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Tigress Financial boosted their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $162.67.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $212.09 on Friday. The business has a 50-day simple moving average of $186.08 and a two-hundred day simple moving average of $175.15. The firm has a market cap of $40.73 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.40 and a beta of 0.97. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $216.44.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. As a group, research analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current year.

Insider Buying and Selling at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 19.54% of the company’s stock.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.