Garmin Ltd. (NYSE:GRMN) Shares Acquired by FSM Wealth Advisors LLC

FSM Wealth Advisors LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,708 shares of the scientific and technical instruments company’s stock after acquiring an additional 285 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Garmin were worth $301,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Select Equity Group L.P. lifted its holdings in shares of Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock valued at $326,909,000 after buying an additional 11,666 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Garmin by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after purchasing an additional 13,968 shares during the last quarter. Boston Partners raised its holdings in shares of Garmin by 4.3% in the 1st quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after purchasing an additional 58,343 shares in the last quarter. Marshall Wace LLP lifted its stake in Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after purchasing an additional 278,990 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Garmin by 20.2% during the first quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock worth $124,982,000 after buying an additional 141,001 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday. Tigress Financial boosted their price target on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $162.67.

Garmin Trading Up 1.0 %

NYSE:GRMN opened at $200.24 on Tuesday. The stock has a market cap of $38.45 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.99 and a beta of 0.97. The stock has a 50-day moving average price of $174.63 and a two-hundred day moving average price of $168.41. Garmin Ltd. has a 1 year low of $114.49 and a 1 year high of $207.22.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. Sell-side analysts forecast that Garmin Ltd. will post 6.94 earnings per share for the current year.

Insider Activity at Garmin

In other news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $499,015.00. Following the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by corporate insiders.

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.