Garmin Ltd. (NYSE:GRMN) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp increased its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 19.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,387 shares of the scientific and technical instruments company's stock after purchasing an additional 5,989 shares during the period. Stifel Financial Corp's holdings in Garmin were worth $6,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Garmin in the second quarter worth $31,000. Larson Financial Group LLC lifted its holdings 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 buying an additional 162 shares during the period. Family Firm Inc. acquired a new stake in Garmin during the second quarter worth about $35,000. Benjamin Edwards Inc. lifted its stake in shares of 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 purchasing an additional 99 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in Garmin during the third quarter worth $39,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Price Performance

NYSE GRMN traded up $0.18 during mid-day trading on Friday, hitting $215.40. The stock had a trading volume of 731,681 shares, compared to its average volume of 857,080. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The firm's 50 day moving average is $195.59 and its 200 day moving average is $178.87. The stock has a market capitalization of $41.36 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.46 and a beta of 0.97.

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 for the quarter, topping the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company's revenue for the quarter was up 24.1% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. As a group, equities research analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Tigress Financial increased their target price on shares of Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Thursday, September 19th. StockNews.com cut Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research report on Friday, November 1st. Finally, Morgan Stanley lowered shares of Garmin from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three investment 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $162.67.

Insider Activity

In other Garmin news, 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 value of $123,328.70. Following the sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.54% of the company's stock.

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.