2,669 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,669 shares of the scientific and technical instruments company’s stock, valued at approximately $470,000.

Several other large investors have also modified their holdings of the business. LBP AM SA lifted its stake in shares of Garmin by 81.4% during the 1st quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,268 shares during the last quarter. Cetera Investment Advisers boosted its holdings 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 valued at $4,227,000 after buying an additional 9,681 shares in the last quarter. Algert Global LLC purchased a new position in shares of Garmin in the 2nd quarter worth approximately $508,000. Dynamic Advisor Solutions LLC bought a new position in shares of Garmin during the 3rd quarter worth approximately $695,000. Finally, Trajan Wealth LLC lifted its position in Garmin by 9.1% during the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after acquiring an additional 6,878 shares during the last quarter. Institutional investors own 73.41% of the company’s stock.

Garmin Stock Down 0.9 %

Shares of NYSE:GRMN opened at $205.57 on Thursday. The business has a 50-day moving average price of $181.03 and a 200-day moving average price of $173.17. The stock has a market cap of $39.47 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 3.17 and a beta of 0.97. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $215.55.

Garmin (NYSE:GRMN) last posted its quarterly 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 company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 6.88 EPS for the current fiscal year.

Insider Activity at Garmin

In related news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. The trade was a 3.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,424 shares of company stock worth $638,159 over the last three months. Company insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GRMN shares. Tigress Financial upped their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays raised their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $162.67.

Garmin 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.