Benchmark Financial Wealth Advisors LLC Purchases 248 Shares of Garmin Ltd. (NYSE:GRMN)

Benchmark Financial Wealth Advisors LLC lifted its position in Garmin Ltd. (NYSE:GRMN) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,829 shares of the scientific and technical instruments company’s stock after buying an additional 248 shares during the quarter. Benchmark Financial Wealth Advisors LLC’s holdings in Garmin were worth $322,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GRMN. Nordea Investment Management AB grew its stake in shares of Garmin by 4.4% in the 1st quarter. Nordea Investment Management AB now owns 10,111 shares of the scientific and technical instruments company’s stock valued at $1,503,000 after buying an additional 430 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Garmin by 12.5% during the first quarter. Daiwa Securities Group Inc. now owns 15,122 shares of the scientific and technical instruments company’s stock worth $2,251,000 after purchasing an additional 1,677 shares during the period. GSA Capital Partners LLP bought a new stake in Garmin during the first quarter worth approximately $1,389,000. Mediolanum International Funds Ltd bought a new stake in Garmin during the first quarter worth approximately $921,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Garmin during the first quarter worth approximately $253,000. Institutional investors own 73.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Tigress Financial upped their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Barclays upped 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. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Garmin has a consensus rating of “Hold” and an average target price of $162.67.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Philip Straub sold 2,750 shares of the stock in a transaction 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 sale, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm’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 transaction, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. This 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 over the last three months. 19.54% of the stock is currently owned by corporate insiders.

Garmin Trading Up 2.0 %

GRMN opened at $204.18 on Wednesday. Garmin Ltd. has a 1-year low of $114.49 and a 1-year high of $207.22. The stock has a market capitalization of $39.21 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 2.99 and a beta of 0.97. The business has a 50 day moving average of $175.10 and a 200-day moving average of $168.86.

Garmin (NYSE:GRMN) last issued its 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. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. Equities analysts predict that Garmin Ltd. will post 6.94 EPS for the current 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.