First Hawaiian Bank purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,595 shares of the scientific and technical instruments company's stock, valued at approximately $1,649,000.
A number of other large investors also recently bought and sold shares of GRMN. Golden State Wealth Management LLC purchased a new position in Garmin during the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd increased its stake in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after purchasing an additional 121 shares in the last quarter. SOA Wealth Advisors LLC. purchased a new stake in Garmin in the 4th quarter worth $37,000. Kentucky Trust Co purchased a new stake in shares of Garmin during the fourth quarter worth about $41,000. Finally, Venturi Wealth Management LLC raised its position in shares of Garmin by 67.7% during the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after buying an additional 84 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have issued reports on GRMN. JPMorgan Chase & Co. reduced their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Barclays decreased their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, Tigress Financial increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $206.00.
Get Our Latest Stock Analysis on GRMN
Insider Buying and Selling at Garmin
In other news, VP Susan Lyman sold 2,829 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. This trade represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.38% of the company's stock.
Garmin Price Performance
Shares of GRMN traded up $0.73 during mid-day trading on Wednesday, reaching $205.23. 114,018 shares of the company's stock traded hands, compared to its average volume of 880,790. Garmin Ltd. has a 12 month low of $158.38 and a 12 month high of $246.50. The stock has a market cap of $39.52 billion, a P/E ratio of 28.08, a P/E/G ratio of 1.36 and a beta of 0.99. The stock's 50-day moving average is $196.01 and its two-hundred day moving average is $208.09.
Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.42 earnings per share. Research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.
About Garmin
(
Free Report)
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.
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