Parcion Private Wealth LLC Has $7.46 Million Stake in Garmin Ltd. (NYSE:GRMN)

Parcion Private Wealth LLC reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,183 shares of the scientific and technical instruments company’s stock after selling 1,132 shares during the quarter. Parcion Private Wealth LLC’s holdings in Garmin were worth $7,463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GRMN. Golden State Wealth Management LLC acquired a new stake in Garmin in the 4th quarter valued at approximately $26,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Garmin in the fourth quarter worth $29,000. Larson Financial Group LLC increased its position in Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares during the period. SOA Wealth Advisors LLC. acquired a new position in Garmin during the 4th quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Garmin in the 3rd quarter valued at $39,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Trading Up 13.2 %

Shares of Garmin stock opened at $243.13 on Thursday. The stock has a market capitalization of $46.69 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 1.28 and a beta of 0.98. The firm’s 50-day moving average price is $212.99 and its two-hundred day moving average price is $194.84. Garmin Ltd. has a 1-year low of $121.20 and a 1-year high of $246.50.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts predict that Garmin Ltd. will post 7.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GRMN shares. Morgan Stanley raised shares of Garmin to a “sell” rating and upped their price objective for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upgraded Garmin to a “neutral” rating and raised their price objective for the stock from $212.00 to $219.00 in a research report on Friday, February 14th. Barclays boosted their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.83.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.54% of the stock is currently 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.