Garmin Ltd. (NYSE:GRMN) Stake Boosted by Curbstone Financial Management Corp

Curbstone Financial Management Corp increased its stake in Garmin Ltd. (NYSE:GRMN) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,886 shares of the scientific and technical instruments company’s stock after purchasing an additional 50 shares during the period. Curbstone Financial Management Corp’s holdings in Garmin were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GRMN. Geneos Wealth Management Inc. increased its stake in shares of Garmin by 1.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after purchasing an additional 49 shares during the period. HB Wealth Management LLC increased its position in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock valued at $788,000 after acquiring an additional 53 shares during the period. Outlook Wealth Advisors LLC raised its stake in Garmin by 2.6% during the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock valued at $481,000 after acquiring an additional 58 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in Garmin by 0.9% during 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 acquiring an additional 61 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Garmin by 8.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 804 shares of the scientific and technical instruments company’s stock worth $166,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Trading Up 0.3 %

Shares of Garmin stock opened at $214.90 on Tuesday. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The company’s 50-day moving average price is $211.85 and its two-hundred day moving average price is $189.38. The stock has a market cap of $41.26 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.31 and a beta of 0.98.

Garmin (NYSE:GRMN) last released its 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 during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share. On average, equities analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

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

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.