VCI Wealth Management LLC Invests $1.02 Million in Garmin Ltd. (NYSE:GRMN)

VCI Wealth Management LLC bought a new position in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 4,957 shares of the scientific and technical instruments company’s stock, valued at approximately $1,022,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp increased its stake in shares of Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after acquiring an additional 134,303 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Garmin by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock worth $765,912,000 after acquiring an additional 112,815 shares in the last quarter. FMR LLC increased its stake in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after acquiring an additional 1,093,219 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of Garmin by 3.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock worth $246,619,000 after acquiring an additional 48,645 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Garmin by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock worth $135,143,000 after acquiring an additional 30,011 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Garmin Trading Up 0.3 %

GRMN opened at $214.90 on Tuesday. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $222.97. The firm’s 50 day simple moving average is $211.85 and its two-hundred day simple moving average is $189.38. The company has a market capitalization of $41.26 billion, a PE ratio of 27.27, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. Equities analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

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.