William Allan Corp Has $3.29 Million Holdings in Garmin Ltd. (NYSE:GRMN)

William Allan Corp lifted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 94.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,686 shares of the scientific and technical instruments company’s stock after buying an additional 9,067 shares during the period. Garmin makes up about 2.0% of William Allan Corp’s portfolio, making the stock its 22nd largest position. William Allan Corp’s holdings in Garmin were worth $3,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Garmin during the second quarter valued at approximately $31,000. Larson Financial Group LLC boosted 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 valued at $33,000 after buying an additional 162 shares during the period. Family Firm Inc. bought a new stake in shares of Garmin in the second quarter worth about $35,000. Benjamin Edwards Inc. grew its position in shares of Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Garmin in the second quarter valued at $46,000. Institutional investors own 73.41% of the company’s stock.

Garmin Stock Down 0.4 %

Shares of Garmin stock opened at $212.09 on Friday. The firm has a market cap of $40.73 billion, a PE ratio of 26.91, a P/E/G ratio of 1.40 and a beta of 0.97. The business has a 50-day moving average price of $186.08 and a 200 day moving average price of $175.15. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $216.44.

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 firm 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%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. On average, sell-side analysts expect that Garmin Ltd. will post 7.01 EPS for the current year.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on 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 owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

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

About Garmin

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.