Park Avenue Securities LLC increased its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 62.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,116 shares of the scientific and technical instruments company's stock after purchasing an additional 2,345 shares during the quarter. Park Avenue Securities LLC's holdings in Garmin were worth $1,261,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Board of the Pension Protection Fund bought a new stake in shares of Garmin in the 4th quarter worth $1,031,000. Fifth Third Wealth Advisors LLC acquired a new position in Garmin during the fourth quarter worth about $220,000. Tealwood Asset Management Inc. raised its position in Garmin by 0.5% in the fourth quarter. Tealwood Asset Management Inc. now owns 15,405 shares of the scientific and technical instruments company's stock worth $3,177,000 after acquiring an additional 75 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in Garmin by 84.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,073 shares of the scientific and technical instruments company's stock valued at $634,000 after acquiring an additional 1,405 shares during the last quarter. Finally, Kwmg LLC bought a new position in shares of Garmin during the 4th quarter valued at about $265,000. Institutional investors own 81.60% of the company's stock.
Garmin Trading Up 0.4 %
NYSE GRMN traded up $0.94 during trading on Monday, reaching $215.50. The company's stock had a trading volume of 746,938 shares, compared to its average volume of 652,053. The business has a 50-day moving average price of $211.45 and a 200-day moving average price of $187.48. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $222.97. The stock has a market capitalization of $41.38 billion, a PE ratio of 27.35, a PEG ratio of 1.26 and a beta of 0.98.
Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business earned $1.41 EPS. The firm's revenue was up 24.1% compared to the same quarter last year. As a group, analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current year.
Insider Transactions at Garmin
In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company's stock, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of Garmin 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 owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Barclays boosted their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a report on Friday, November 1st. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial lifted their price target on Garmin from $215.00 to $265.00 and gave the stock a "strong-buy" rating in a research note on Monday, December 16th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $171.00.
Read Our Latest Stock Report 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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