Garmin Ltd. (NYSE:GRMN) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management boosted its position in Garmin Ltd. (NYSE:GRMN) by 2.3% during the third quarter, Holdings Channel.com reports. The fund owned 6,166 shares of the scientific and technical instruments company’s stock after purchasing an additional 140 shares during the quarter. Financial Advocates Investment Management’s holdings in Garmin were worth $1,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Garmin in the first quarter valued at about $1,389,000. LBP AM SA lifted its position in shares of Garmin by 81.4% during the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,268 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Garmin by 3.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock valued at $25,861,000 after purchasing an additional 5,945 shares during the period. Cetera Investment Advisers grew its holdings in Garmin by 51.7% during the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock valued at $4,227,000 after purchasing an additional 9,681 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Garmin by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company’s stock worth $26,500,000 after buying an additional 7,553 shares during the period. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Philip Straub sold 2,750 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now owns 88,622 shares in the company, valued at $16,081,348.12. This 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 is available through this hyperlink. In related news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, 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. In the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. Company insiders own 19.54% of the company’s stock.

Garmin Stock Down 0.2 %

Shares of NYSE GRMN opened at $198.05 on Friday. The stock’s 50 day moving average price is $174.22 and its two-hundred day moving average price is $167.62. Garmin Ltd. has a 52-week low of $112.01 and a 52-week high of $207.22. The stock has a market capitalization of $38.07 billion, a P/E ratio of 25.13, a PEG ratio of 3.52 and a beta of 0.99.

Garmin (NYSE:GRMN) 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, beating 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 business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. On average, analysts anticipate that Garmin Ltd. will post 6.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GRMN. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial raised their price objective on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Barclays raised 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. 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 stock. According to MarketBeat, Garmin has an average rating of “Hold” and an average target price of $162.67.

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.