Lifeworks Advisors LLC Increases Holdings in Garmin Ltd. (NYSE:GRMN)

Lifeworks Advisors LLC raised its stake in Garmin Ltd. (NYSE:GRMN) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,111 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,538 shares during the period. Lifeworks Advisors LLC’s holdings in Garmin were worth $3,540,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Garmin by 136.7% during the second quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company’s stock valued at $115,177,000 after acquiring an additional 411,084 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Garmin in the 2nd quarter worth $45,999,000. Marshall Wace LLP raised its stake in shares of Garmin by 34.0% in the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after purchasing an additional 278,990 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Garmin by 123.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company’s stock valued at $85,600,000 after purchasing an additional 268,996 shares in the last quarter. Finally, M&G Plc bought a new stake in Garmin in the 1st quarter worth about $38,727,000. 73.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 value of $1,781,343.80. Following the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,479 shares of company stock worth $2,419,502. Corporate insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GRMN. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Tigress Financial lifted their price objective on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays raised their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $162.67.

Garmin Price Performance

Shares of NYSE:GRMN traded up $2.12 during mid-day trading on Thursday, reaching $215.10. 79,288 shares of the company traded hands, compared to its average volume of 856,569. The company’s 50 day moving average price is $178.79 and its 200-day moving average price is $171.60. The firm has a market cap of $41.30 billion, a PE ratio of 27.23, a PEG ratio of 3.25 and a beta of 0.97. Garmin Ltd. has a 52 week low of $118.51 and a 52 week high of $215.55.

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 for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. On average, research analysts predict that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

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.