Everpar Advisors LLC Invests $221,000 in Garmin Ltd. (NYSE:GRMN)

Everpar Advisors LLC acquired a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,073 shares of the scientific and technical instruments company’s stock, valued at approximately $221,000.

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in Garmin during the fourth quarter valued at about $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin in the 2nd quarter valued at about $31,000. Larson Financial Group LLC grew its position in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Garmin in the 3rd quarter worth approximately $39,000. Finally, Benjamin Edwards Inc. lifted its position in Garmin by 73.3% in the second 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 last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Garmin Trading Up 0.4 %

Shares of Garmin stock opened at $215.50 on Friday. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97. The company has a market cap of $41.38 billion, a P/E ratio of 27.35, a PEG ratio of 1.26 and a beta of 0.98. The company’s fifty day simple moving average is $211.45 and its two-hundred day simple moving average is $187.12.

Garmin (NYSE:GRMN) last announced 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. 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 analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. Garmin’s quarterly revenue was up 24.1% on a year-over-year basis. Analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley cut shares of 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 report on Monday, October 7th. Barclays raised their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial upped their price objective on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Garmin presently has an average rating of “Hold” and a consensus target price of $171.00.

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.