Integrated Wealth Concepts LLC trimmed its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 66.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,038 shares of the scientific and technical instruments company's stock after selling 15,741 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Garmin were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in Garmin in the second quarter worth about $31,000. Larson Financial Group LLC boosted its stake in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 162 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Garmin in the 2nd quarter worth about $35,000. Benjamin Edwards Inc. lifted its holdings in Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 99 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Garmin in the third quarter valued at about $39,000. Institutional investors and hedge funds own 73.41% of the company's stock.
Garmin Stock Up 0.9 %
NYSE GRMN traded up $1.99 during trading hours on Friday, hitting $218.58. The company's stock had a trading volume of 661,073 shares, compared to its average volume of 818,862. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $219.54. The firm has a market capitalization of $41.97 billion, a P/E ratio of 27.74, a PEG ratio of 1.42 and a beta of 0.97. The stock has a fifty day moving average of $190.98 and a 200 day moving average of $177.16.
Garmin (NYSE:GRMN - Get Free Report) 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 the consensus estimate of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm's revenue was up 24.1% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. On average, analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current year.
Insider Transactions at Garmin
In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.54% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. StockNews.com lowered 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 lowered their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. Finally, Tigress Financial raised their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 19th. 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's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $162.67.
Check Out Our Latest Analysis on Garmin
About Garmin
(
Free Report)
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.
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