Arkfeld Wealth Strategies L.L.C. Purchases New Shares in Garmin Ltd. (NYSE:GRMN)

Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,000 shares of the scientific and technical instruments company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRMN. Pinnacle Bancorp Inc. purchased a new stake in Garmin in the 4th quarter valued at about $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin during the second quarter worth about $31,000. Larson Financial Group LLC boosted its holdings in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Garmin in the third quarter valued at approximately $39,000. Finally, Capital Performance Advisors LLP acquired a new position in Garmin in the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRMN. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Tigress Financial raised their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Finally, Barclays raised their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $171.00.

Garmin Stock Down 0.6 %

Shares of NYSE GRMN opened at $214.37 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 $41.16 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 1.31 and a beta of 0.98. The business has a fifty day simple moving average of $211.85 and a 200-day simple moving average of $189.01.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. As a group, sell-side analysts expect that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by corporate insiders.

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.