Barlow Wealth Partners Inc. Purchases 2,255 Shares of Garmin Ltd. (NYSE:GRMN)

Barlow Wealth Partners Inc. grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,602 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,255 shares during the quarter. Garmin comprises 2.0% of Barlow Wealth Partners Inc.’s holdings, making the stock its 25th largest holding. Barlow Wealth Partners Inc.’s holdings in Garmin were worth $15,284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. HB Wealth Management LLC increased its holdings in Garmin by 1.4% during the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after purchasing an additional 53 shares in the last quarter. Outlook Wealth Advisors LLC grew its holdings in Garmin by 2.6% during the fourth quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after buying an additional 58 shares in the last quarter. Sumitomo Life Insurance Co. raised its position in 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 valued at $1,177,000 after buying an additional 61 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Garmin by 8.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 804 shares of the scientific and technical instruments company’s stock valued at $166,000 after acquiring an additional 63 shares in the last quarter. Finally, Tealwood Asset Management Inc. boosted its holdings in Garmin by 0.5% during the 4th quarter. Tealwood Asset Management Inc. now owns 15,405 shares of the scientific and technical instruments company’s stock worth $3,177,000 after acquiring an additional 75 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the 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 owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GRMN. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Morgan Stanley downgraded 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 note on Monday, October 7th. Finally, Tigress Financial increased 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. Three 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $171.00.

Garmin Stock Up 1.0 %

Shares of GRMN stock opened at $217.83 on Wednesday. The firm has a market cap of $41.83 billion, a P/E ratio of 27.64, a PEG ratio of 1.30 and a beta of 0.98. The company has a 50 day moving average of $211.50 and a 200-day moving average of $187.87. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97.

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

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.