Garmin Ltd. (NYSE:GRMN) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 18.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,402 shares of the scientific and technical instruments company’s stock after acquiring an additional 523 shares during the period. UMB Bank n.a.’s holdings in Garmin were worth $599,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Clearstead Trust LLC purchased a new stake in shares of Garmin in the 1st quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Garmin in the second quarter valued at $31,000. Family Firm Inc. purchased a new stake in shares of Garmin in the second quarter valued at $35,000. Benjamin Edwards Inc. grew its holdings in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Garmin during the second quarter valued at $46,000. 73.41% of the stock is owned by institutional investors.

Garmin Stock Up 0.1 %

Shares of GRMN opened at $165.89 on Friday. The stock’s 50-day moving average price is $173.83 and its 200 day moving average price is $164.81. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The firm has a market capitalization of $31.89 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 2.85 and a beta of 0.99.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.18. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm posted $1.45 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts expect that Garmin Ltd. will post 6.08 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Tigress Financial lifted their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. 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. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. 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 presently has a consensus rating of “Hold” and a consensus target price of $158.50.

Insider Transactions at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,892 shares of company stock valued at $2,296,174. Corporate 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.