Reston Wealth Management LLC Buys Shares of 612 Garmin Ltd. (NYSE:GRMN)

Reston Wealth Management LLC bought a new stake in Garmin Ltd. (NYSE:GRMN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 612 shares of the scientific and technical instruments company’s stock, valued at approximately $108,000.

A number of other institutional investors also recently bought and sold shares of the company. Select Equity Group L.P. lifted its holdings in Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock valued at $326,909,000 after acquiring an additional 11,666 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Garmin by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after buying an additional 13,968 shares during the period. Boston Partners raised its stake in shares of Garmin by 4.3% in the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after buying an additional 58,343 shares during the period. Marshall Wace LLP raised its stake in shares of Garmin by 34.0% in the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after buying an additional 278,990 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Garmin by 20.2% in the first quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock worth $124,982,000 after buying an additional 141,001 shares during the period. Institutional investors own 73.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GRMN shares. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. Tigress Financial raised their price objective on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Finally, StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Three research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $158.50.

Garmin Trading Down 3.2 %

NYSE:GRMN opened at $198.40 on Friday. Garmin Ltd. has a 12-month low of $101.49 and a 12-month high of $207.22. The stock has a 50-day moving average price of $173.85 and a 200 day moving average price of $167.23. The stock has a market capitalization of $38.13 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.52 and a beta of 0.99.

Garmin (NYSE:GRMN) last released its quarterly 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 business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. On average, research analysts predict that Garmin Ltd. will post 6.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Garmin

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

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.