WESPAC Advisors LLC Buys 215 Shares of Garmin Ltd. (NYSE:GRMN)

WESPAC Advisors LLC boosted its position in Garmin Ltd. (NYSE:GRMN) by 4.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,206 shares of the scientific and technical instruments company’s stock after buying an additional 215 shares during the period. WESPAC Advisors LLC’s holdings in Garmin were worth $916,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GRMN. LBP AM SA increased its holdings 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 valued at $1,084,000 after acquiring an additional 3,268 shares in the last quarter. Cetera Investment Advisers increased its stake 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. Algert Global LLC acquired a new position in Garmin during the second quarter worth $508,000. Dynamic Advisor Solutions LLC bought a new position in shares of Garmin in the third quarter valued at $695,000. Finally, Trajan Wealth LLC increased its position in shares of Garmin by 9.1% during the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after acquiring an additional 6,878 shares in the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The trade was a 3.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,424 shares of company stock valued at $638,159 in the last three months. Company insiders own 19.54% of the company’s stock.

Garmin Trading Up 0.6 %

GRMN stock opened at $210.33 on Friday. The stock has a market cap of $40.39 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.28 and a beta of 0.97. The stock’s fifty day simple moving average is $182.77 and its two-hundred day simple moving average is $173.94. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $215.55.

Garmin (NYSE:GRMN) last issued 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. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $1.41 EPS. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, analysts forecast that Garmin Ltd. will post 6.68 earnings per share for the current fiscal year.

Garmin 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.