Silver Oak Securities Incorporated Invests $743,000 in Garmin Ltd. (NYSE:GRMN)

Silver Oak Securities Incorporated purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,273 shares of the scientific and technical instruments company’s stock, valued at approximately $743,000.

A number of other hedge funds have also made changes to their positions in the stock. Clearstead Trust LLC acquired a new position in Garmin in the first quarter worth $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in Garmin during the second quarter valued at $31,000. Family Firm Inc. bought a new stake in Garmin during the second quarter valued at $35,000. Benjamin Edwards Inc. increased its stake in 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. Finally, Headlands Technologies LLC bought a new stake in Garmin during the second quarter valued at $46,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Stock Up 0.2 %

GRMN stock opened at $162.30 on Friday. The company has a market capitalization of $31.17 billion, a P/E ratio of 22.89, a PEG ratio of 2.85 and a beta of 0.99. The company has a 50-day simple moving average of $173.31 and a 200 day simple moving average of $166.17. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $184.42.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.18. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 earnings per share. Equities analysts anticipate that Garmin Ltd. will post 6.08 EPS for the current year.

Insider Buying and Selling at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GRMN has been the subject of several recent research reports. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Tigress Financial upped their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.50.

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.