Kwmg LLC Acquires New Shares in Garmin Ltd. (NYSE:GRMN)

Kwmg LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,285 shares of the scientific and technical instruments company’s stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Garmin in the 2nd quarter worth about $31,000. Larson Financial Group LLC raised its holdings in shares of Garmin by 578.6% during 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 during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Garmin in the third quarter worth approximately $39,000. Finally, Headlands Technologies LLC bought a new stake in Garmin in the 2nd quarter worth approximately $46,000. Institutional investors own 81.60% of the company’s stock.

Analysts Set New Price Targets

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

Garmin Stock Performance

Shares of NYSE GRMN traded down $1.03 during midday trading on Monday, reaching $208.13. The stock had a trading volume of 718,877 shares, compared to its average volume of 652,114. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97. The stock has a 50-day moving average of $210.93 and a 200-day moving average of $185.69. The company has a market capitalization of $39.97 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98.

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 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 for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the firm’s 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 transaction, the director now owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, 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 disclosure for this sale can be found here. 19.54% of the stock is owned by insiders.

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.