Albert D Mason Inc. Has $1.68 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Albert D Mason Inc. cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,551 shares of the scientific and technical instruments company’s stock after selling 84 shares during the period. Albert D Mason Inc.’s holdings in Garmin were worth $1,681,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new stake in shares of Garmin in the first quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Garmin in the second quarter valued at approximately $31,000. Family Firm Inc. acquired a new stake in shares of Garmin in the second quarter valued at approximately $35,000. Benjamin Edwards Inc. lifted its position in shares of 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 buying an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Garmin in the second quarter valued at approximately $46,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Philip Straub sold 2,750 shares of the business’s 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 $16,081,348.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 owns 88,622 shares in the company, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock worth $2,296,174 in the last 90 days. Insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GRMN shares. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $181.00 to $133.00 in a report on Friday, September 13th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. 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 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $158.50.

Garmin Stock Performance

Shares of GRMN opened at $162.96 on Wednesday. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $184.42. The business’s fifty day moving average is $173.85 and its 200-day moving average is $166.14. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 2.85 and a beta of 0.99.

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

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.