Catalina Capital Group LLC Boosts Stake in Garmin Ltd. (NYSE:GRMN)

Catalina Capital Group LLC lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,418 shares of the scientific and technical instruments company’s stock after purchasing an additional 117 shares during the quarter. Catalina Capital Group LLC’s holdings in Garmin were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Clearstead Trust LLC bought a new position in Garmin in the first quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. bought a new position in Garmin in the second quarter valued at about $31,000. Family Firm Inc. bought a new position in Garmin in the second quarter valued at about $35,000. Benjamin Edwards Inc. lifted its holdings in Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 99 shares during the period. Finally, Headlands Technologies LLC bought a new position in Garmin in the second quarter valued at about $46,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GRMN. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $155.00 to $138.00 in a report on Monday, October 7th. Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, 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. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $162.67.

Garmin Stock Up 2.7 %

NYSE GRMN opened at $209.67 on Thursday. The stock’s 50-day moving average price is $175.69 and its 200-day moving average price is $169.15. Garmin Ltd. has a 52 week low of $114.49 and a 52 week high of $210.33. The company has a market capitalization of $40.26 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) 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%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned $1.41 EPS. Research analysts anticipate that Garmin Ltd. will post 6.52 EPS for the current year.

Insider Activity at Garmin

In related news, 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 transaction of $1,781,343.80. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction that occurred 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 owns 40,965 shares in the company, valued at $7,257,359.40. 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. Also, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by company insiders.

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.