Long Run Wealth Advisors LLC Reduces Holdings in Garmin Ltd. (NYSE:GRMN)

Long Run Wealth Advisors LLC cut its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 62.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,055 shares of the scientific and technical instruments company's stock after selling 6,885 shares during the period. Long Run Wealth Advisors LLC's holdings in Garmin were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in shares of Garmin during the 4th quarter worth $26,000. Aster Capital Management DIFC Ltd raised its stake in Garmin by 864.3% during 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 acquiring an additional 121 shares in the last quarter. SOA Wealth Advisors LLC. bought a new position in shares of Garmin in the fourth quarter worth about $37,000. Kentucky Trust Co acquired a new stake in shares of Garmin in the 4th quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after purchasing an additional 84 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Up 0.2%

Garmin stock traded up $0.37 during mid-day trading on Thursday, hitting $205.32. 634,316 shares of the stock were exchanged, compared to its average volume of 882,568. The stock has a market capitalization of $39.53 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 12 month low of $158.38 and a 12 month high of $246.50. The firm's fifty day simple moving average is $195.84 and its two-hundred day simple moving average is $208.07.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly 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). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $1.42 EPS. The business's revenue was up 11.1% compared to the same quarter last year. As a group, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on GRMN shares. Tigress Financial boosted their price target on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Morgan Stanley upped their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Barclays reduced their price objective 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $206.00.

Insider Buying and Selling at Garmin

In other news, VP Susan Lyman sold 2,829 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the sale, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. This represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.38% of the company's stock.

Garmin 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.