Fiduciary Financial Group LLC Boosts Stock Position in Garmin Ltd. (NYSE:GRMN)

Fiduciary Financial Group LLC raised its holdings in Garmin Ltd. (NYSE:GRMN) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,464 shares of the scientific and technical instruments company’s stock after buying an additional 84 shares during the period. Fiduciary Financial Group LLC’s holdings in Garmin were worth $241,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GRMN. Clearstead Trust LLC acquired a new stake in Garmin during the 1st quarter worth $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Garmin during the second quarter worth about $31,000. Family Firm Inc. acquired a new stake in shares of Garmin during the second quarter worth about $35,000. Benjamin Edwards Inc. lifted its holdings in shares of Garmin by 73.3% in the 2nd 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 acquired a new stake in shares of Garmin in the 2nd quarter valued at about $46,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Garmin Trading Up 0.1 %

Shares of GRMN opened at $165.89 on Friday. The stock’s 50 day moving average is $173.78 and its two-hundred day moving average is $165.06. Garmin Ltd. has a twelve month low of $99.61 and a twelve month high of $184.42. The firm has a market capitalization of $31.86 billion, a PE ratio of 23.40, a P/E/G ratio of 2.85 and a beta of 0.99.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. On average, sell-side analysts predict that Garmin Ltd. will post 6.08 EPS for the current year.

Insider Activity at Garmin

In other Garmin news, Director Philip Straub sold 2,750 shares of the 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 transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of Garmin 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 transaction, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,892 shares of company stock worth $2,296,174 over the last 90 days. Company insiders own 19.54% of the company’s stock.

About Garmin

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.