Garmin Ltd. (NYSE:GRMN) Stock Position Lowered by Segment Wealth Management LLC

Segment Wealth Management LLC lessened its position in Garmin Ltd. (NYSE:GRMN) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 104,896 shares of the scientific and technical instruments company’s stock after selling 3,163 shares during the quarter. Garmin makes up approximately 1.3% of Segment Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Segment Wealth Management LLC’s holdings in Garmin were worth $18,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Life Insurance Co. raised its stake in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after buying an additional 61 shares in the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of Garmin by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after purchasing an additional 70 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in shares of Garmin by 3.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock worth $344,000 after purchasing an additional 73 shares during the period. UMB Bank n.a. raised its position in shares of Garmin by 2.6% during the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after purchasing an additional 74 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Garmin by 5.8% during the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after purchasing an additional 83 shares during the period. Institutional investors own 73.41% of the company’s stock.

Insider Buying and Selling at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the business’s 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the business’s 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now owns 88,622 shares in the company, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock worth $2,296,174 over the last 90 days. 19.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GRMN has been the topic of a number of recent analyst reports. Morgan Stanley lowered 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 research report on Monday, October 7th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Finally, Tigress Financial boosted their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and an average price target of $158.50.

Garmin Trading Down 2.1 %

Shares of GRMN stock opened at $162.96 on Wednesday. Garmin Ltd. has a 1-year low of $99.61 and a 1-year high of $184.42. The company has a market capitalization of $31.30 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 2.85 and a beta of 0.99. The stock’s fifty day simple moving average is $173.85 and its 200-day simple moving average is $166.14.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. Garmin’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts predict that Garmin Ltd. will post 6.08 EPS for the current year.

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.