CWA Asset Management Group LLC Takes Position in Garmin Ltd. (NYSE:GRMN)

CWA Asset Management Group LLC acquired a new position in Garmin Ltd. (NYSE:GRMN - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 67,259 shares of the scientific and technical instruments company's stock, valued at approximately $11,840,000.

Several other large investors have also recently made changes to their positions in GRMN. Nordea Investment Management AB raised its position in shares of Garmin by 4.4% in the 1st quarter. Nordea Investment Management AB now owns 10,111 shares of the scientific and technical instruments company's stock valued at $1,503,000 after purchasing an additional 430 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Garmin during the first quarter worth about $253,000. Empowered Funds LLC raised its holdings in shares of Garmin by 27.1% during the first quarter. Empowered Funds LLC now owns 15,184 shares of the scientific and technical instruments company's stock valued at $2,260,000 after acquiring an additional 3,235 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Garmin by 14.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 31,438 shares of the scientific and technical instruments company's stock valued at $4,680,000 after purchasing an additional 3,974 shares during the last quarter. Finally, Forsta AP Fonden lifted its stake in shares of Garmin by 9.8% in the first quarter. Forsta AP Fonden now owns 27,000 shares of the scientific and technical instruments company's stock worth $4,019,000 after buying an additional 2,400 shares in the last quarter. 73.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now owns 6,147 shares of the company's stock, valued at approximately $1,291,484.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now directly owns 6,147 shares of the company's stock, valued at approximately $1,291,484.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares of the company's stock, valued at $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,479 shares of company stock valued at $2,419,502. 19.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on GRMN. Barclays boosted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research report on Friday, November 1st. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial raised their target price on shares of Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Thursday, September 19th. Finally, StockNews.com downgraded Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Three 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $162.67.

Garmin Price Performance

Shares of GRMN stock traded up $2.38 during trading hours on Friday, hitting $212.72. The stock had a trading volume of 1,143,309 shares, compared to its average volume of 1,019,036. The firm has a market capitalization of $40.85 billion, a PE ratio of 26.99, a PEG ratio of 3.18 and a beta of 0.97. The stock's 50 day moving average is $176.88 and its 200 day moving average is $169.94. Garmin Ltd. has a twelve month low of $115.34 and a twelve month high of $214.62.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share 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 analysts' expectations of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm's revenue for the quarter was up 24.1% on a year-over-year basis. During the same period last year, the firm earned $1.41 EPS. As a group, equities analysts predict that Garmin Ltd. will post 6.89 earnings per share for the current year.

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.