Wealth Enhancement Advisory Services LLC lifted its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 165.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 61,172 shares of the scientific and technical instruments company's stock after acquiring an additional 38,151 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Garmin were worth $12,617,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in GRMN. Baskin Financial Services Inc. grew its position in shares of Garmin by 3.2% during the 4th quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company's stock valued at $30,724,000 after purchasing an additional 4,616 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Garmin by 47.2% in the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock valued at $1,872,000 after acquiring an additional 2,910 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Garmin during the 4th quarter valued at about $127,000. SYM FINANCIAL Corp bought a new stake in shares of Garmin during the 4th quarter valued at about $239,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Garmin by 229.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 159,056 shares of the scientific and technical instruments company's stock worth $32,535,000 after purchasing an additional 110,705 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.
Wall Street Analysts Forecast Growth
GRMN has been the topic of a number of research analyst reports. 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 report on Wednesday, April 30th. Tigress Financial increased their target price on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Morgan Stanley raised their price target on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Two investment 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $206.00.
Get Our Latest Analysis on Garmin
Garmin Trading Up 0.2%
NYSE:GRMN traded up $0.50 during trading hours on Wednesday, reaching $205.00. 465,741 shares of the company traded hands, compared to its average volume of 883,563. The business's 50-day moving average price is $195.84 and its two-hundred day moving average price is $208.07. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50. The stock has a market capitalization of $39.47 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.36 and a beta of 0.99.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly 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). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.
Insider Activity at Garmin
In other Garmin news, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction 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 sale, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.38% of the stock is currently owned by company insiders.
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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