BNC Wealth Management LLC Has $4.76 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

BNC Wealth Management LLC increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,066 shares of the scientific and technical instruments company’s stock after buying an additional 1,424 shares during the period. Garmin accounts for approximately 1.6% of BNC Wealth Management LLC’s holdings, making the stock its 21st biggest holding. BNC Wealth Management LLC’s holdings in Garmin were worth $4,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kera Capital Partners Inc. acquired a new position in Garmin during the 4th quarter valued at about $214,000. Ameritas Advisory Services LLC acquired a new position in Garmin during the 4th quarter valued at about $440,000. HB Wealth Management LLC lifted its position in Garmin by 1.4% during the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock valued at $788,000 after purchasing an additional 53 shares during the period. Merit Financial Group LLC bought a new stake in shares of Garmin in the 4th quarter valued at about $1,338,000. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of Garmin by 12.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,428 shares of the scientific and technical instruments company’s stock valued at $1,532,000 after acquiring an additional 819 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GRMN. Tigress Financial upped their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays upped their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $171.00.

Garmin Stock Performance

NYSE GRMN opened at $215.50 on Friday. The business has a 50 day simple moving average of $211.45 and a 200 day simple moving average of $187.30. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.26 and a beta of 0.98.

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

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Garmin Company Profile

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.