Garmin Ltd. (NYSE:GRMN) Stock Holdings Increased by Forsta AP Fonden

Forsta AP Fonden boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 12.1% in the 4th quarter, Holdings Channel reports. The firm owned 32,400 shares of the scientific and technical instruments company’s stock after buying an additional 3,500 shares during the period. Forsta AP Fonden’s holdings in Garmin were worth $6,683,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its stake in Garmin by 1.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after buying an additional 49 shares in the last quarter. Curbstone Financial Management Corp lifted its position in shares of Garmin by 1.3% in the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock valued at $802,000 after acquiring an additional 50 shares in the last quarter. HB Wealth Management LLC boosted its stake in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after purchasing an additional 53 shares during the period. Outlook Wealth Advisors LLC grew its position in Garmin by 2.6% during the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after purchasing an additional 58 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in Garmin by 0.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Tigress Financial lifted their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Barclays lifted their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $171.00.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Garmin Price Performance

GRMN opened at $215.58 on Friday. The company has a market capitalization of $41.40 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97. The business has a 50-day moving average of $212.50 and a 200-day moving average of $190.42.

Garmin (NYSE:GRMN) last issued its quarterly earnings data 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 firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. On average, equities research analysts expect that Garmin Ltd. will post 7.01 earnings per share 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.