Wealth Enhancement Advisory Services LLC Buys 11,295 Shares of Garmin Ltd. (NYSE:GRMN)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 96.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,021 shares of the scientific and technical instruments company's stock after purchasing an additional 11,295 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Garmin were worth $4,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GRMN. Clearstead Trust LLC acquired a new stake in shares of Garmin during the first quarter worth about $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in Garmin during the second quarter worth approximately $31,000. Family Firm Inc. bought a new stake in Garmin in the 2nd quarter valued at $35,000. Benjamin Edwards Inc. grew its stake in Garmin by 73.3% in the 2nd 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 during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Garmin during the second quarter worth approximately $46,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

NYSE:GRMN traded down $0.30 during trading on Friday, reaching $198.05. The company's stock had a trading volume of 1,708,178 shares, compared to its average volume of 854,782. Garmin Ltd. has a 12 month low of $112.01 and a 12 month high of $207.22. The firm has a 50 day moving average of $173.85 and a 200-day moving average of $167.23. The firm has a market cap of $38.07 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.52 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last released its 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $1.41 earnings per share. The business's revenue for the quarter was up 24.1% on a year-over-year basis. Equities research analysts forecast that Garmin Ltd. will post 6.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GRMN shares. 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 report on Thursday, September 19th. Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research note on Friday. Finally, StockNews.com downgraded shares of Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $162.67.

Insiders Place Their Bets

In other news, Director Philip Straub sold 2,750 shares of the firm's stock in a transaction that occurred 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 approximately $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction 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 completion of the sale, the director now directly owns 88,622 shares of the company's stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock worth $2,296,174 over the last 90 days. Corporate insiders own 19.54% of the company's stock.

About Garmin

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.