UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 135,135 Shares of Garmin Ltd. (NYSE:GRMN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999,096 shares of the scientific and technical instruments company's stock after acquiring an additional 135,135 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.52% of Garmin worth $206,074,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Garmin during the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd grew its position 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 valued at $28,000 after buying an additional 121 shares during the period. SOA Wealth Advisors LLC. bought a new position in Garmin during the fourth quarter valued at about $37,000. Kentucky Trust Co bought a new position in Garmin during the fourth quarter valued at about $41,000. Finally, Venturi Wealth Management LLC lifted its holdings in 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 purchasing an additional 84 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Insider Buying and Selling

In related news, VP Susan Lyman sold 2,829 shares of the company'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 value 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 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 the SEC website. Also, CFO Douglas G. Boessen sold 2,763 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $226.55, for a total transaction of $625,957.65. Following the completion of the transaction, the chief financial officer now owns 30,936 shares in the company, valued at approximately $7,008,550.80. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,229 shares of company stock worth $2,280,398. Insiders own 19.54% of the company's stock.

Garmin Trading Down 1.4%

Shares of Garmin stock traded down $2.83 on Wednesday, reaching $202.68. The stock had a trading volume of 190,411 shares, compared to its average volume of 876,214. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50. The company has a market cap of $39.02 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The business's 50 day moving average is $197.25 and its two-hundred day moving average is $208.40.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The firm had revenue of $1.54 billion during 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 company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 earnings per share. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on GRMN. Morgan Stanley upped their price objective on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Tigress Financial upped their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Barclays dropped their price objective on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Two research 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 company. According to data from MarketBeat, Garmin presently has an average rating of "Hold" and a consensus price target of $206.00.

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.