Twinbeech Capital LP Takes Position in Garmin Ltd. (NYSE:GRMN)

Twinbeech Capital LP purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 17,131 shares of the scientific and technical instruments company's stock, valued at approximately $3,533,000.

A number of other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. raised its position in Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock worth $591,000 after buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp raised its holdings in shares of Garmin by 1.3% during the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock worth $802,000 after acquiring an additional 50 shares during the period. Larson Financial Group LLC raised its holdings in shares of Garmin by 26.8% during the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after acquiring an additional 51 shares during the period. Addison Advisors LLC raised its holdings in Garmin by 11.1% in the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock valued at $108,000 after buying an additional 52 shares during the period. Finally, HB Wealth Management LLC raised its holdings 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 valued at $788,000 after buying an additional 53 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Barclays cut 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. JPMorgan Chase & Co. lowered their price target on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Morgan Stanley boosted their price objective on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, Tigress Financial raised 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Garmin presently has a consensus rating of "Hold" and a consensus price target of $206.00.

Insider Activity

In related news, VP Susan Lyman sold 2,829 shares of the firm's 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 sale, the vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the sale, the chief operating officer now owns 63,048 shares in the company, valued at approximately $14,321,353.20. This trade represents a 9.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock worth $5,486,094 over the last ninety days. 15.38% of the stock is currently owned by insiders.

Garmin Stock Performance

GRMN stock traded down $1.06 during trading on Friday, reaching $200.52. 535,860 shares of the company were exchanged, compared to its average volume of 878,112. The stock's 50 day moving average price is $197.48 and its 200 day moving average price is $208.53. Garmin Ltd. has a 52-week low of $158.38 and a 52-week high of $246.50. The company has a market cap of $38.61 billion, a P/E ratio of 27.43, a PEG ratio of 1.36 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current 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.