UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Garmin Ltd. (NYSE:GRMN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 15.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 999,096 shares of the scientific and technical instruments company's stock after buying an additional 135,135 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.52% of Garmin worth $206,074,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Garmin in the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd lifted 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 purchasing an additional 121 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new stake in Garmin during the fourth quarter worth approximately $37,000. Kentucky Trust Co purchased a new stake in Garmin during the fourth quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC lifted its stake 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 worth $43,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GRMN shares. Barclays decreased their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley boosted their target price on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $206.00.

Garmin Stock Up 0.3%

GRMN opened at $201.38 on Friday. The firm has a market cap of $38.77 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 52 week low of $158.38 and a 52 week high of $246.50. The business's 50 day moving average is $197.60 and its two-hundred day moving average is $208.56.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). The firm 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% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. Equities analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. The trade was a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Munn sold 4,637 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $225.31, for a total value of $1,044,762.47. Following the completion of the transaction, the director now directly owns 11,450 shares in the company, valued at approximately $2,579,799.50. The trade was a 28.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock valued at $5,486,094 over the last quarter. Company insiders own 15.38% of the company's stock.

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.

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