Trajan Wealth LLC Acquires 6,878 Shares of Garmin Ltd. (NYSE:GRMN)

Trajan Wealth LLC increased its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 82,362 shares of the scientific and technical instruments company's stock after purchasing an additional 6,878 shares during the quarter. Trajan Wealth LLC's holdings in Garmin were worth $14,498,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Select Equity Group L.P. grew its position in shares of Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company's stock valued at $326,909,000 after purchasing an additional 11,666 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Garmin by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company's stock worth $282,761,000 after purchasing an additional 13,968 shares during the last quarter. Boston Partners increased its stake in Garmin by 4.3% during the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company's stock valued at $210,799,000 after acquiring an additional 58,343 shares during the period. Marshall Wace LLP raised its holdings in Garmin by 34.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company's stock valued at $178,958,000 after acquiring an additional 278,990 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Garmin by 20.2% in the 1st quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company's stock worth $124,982,000 after acquiring an additional 141,001 shares during the period. Institutional investors own 73.41% of the company's stock.

Insider Activity at Garmin

In other news, Director Philip Straub sold 2,750 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares of the company's stock, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock worth $2,296,174 over the last ninety days. Company insiders own 19.54% of the company's stock.

Garmin Price Performance

Shares of GRMN stock traded up $39.04 during trading hours on Wednesday, hitting $205.31. 1,922,223 shares of the company's stock were exchanged, compared to its average volume of 839,672. Garmin Ltd. has a 52 week low of $101.49 and a 52 week high of $207.11. The stock has a market cap of $39.44 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.99. The stock's 50-day moving average is $172.91 and its 200-day moving average is $166.75.

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

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of recent research reports. Tigress Financial upped 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 lowered shares of Garmin from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays lowered shares of Garmin from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Finally, StockNews.com downgraded Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Three investment 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. Based on data from MarketBeat.com, Garmin has a consensus rating of "Hold" and a consensus price target of $158.50.

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.