1,049 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new stake in Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,049 shares of the scientific and technical instruments company’s stock, valued at approximately $185,000.

Other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Garmin in the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC raised its position in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Family Firm Inc. acquired a new stake in Garmin in the second quarter valued at $35,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Garmin during the 3rd quarter worth $39,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Tigress Financial boosted their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $171.00.

Insiders Place Their Bets

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction 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 transaction, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 19.54% of the stock is owned by corporate insiders.

Garmin Price Performance

Shares of Garmin stock opened at $206.23 on Thursday. The business has a 50 day moving average price of $198.37 and a 200 day moving average price of $179.99. The company has a market capitalization of $39.60 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.46 and a beta of 0.97. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. The business had revenue of $1.59 billion for 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 revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share. As a group, research analysts expect that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

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.