Garmin Ltd. (NYSE:GRMN) Shares Purchased by TrueWealth Advisors LLC

TrueWealth Advisors LLC boosted its position in Garmin Ltd. (NYSE:GRMN) by 32.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,204 shares of the scientific and technical instruments company’s stock after purchasing an additional 534 shares during the period. TrueWealth Advisors LLC’s holdings in Garmin were worth $388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GRMN. Norden Group LLC acquired a new stake in Garmin in the first quarter worth approximately $847,000. Janney Montgomery Scott LLC lifted its position in Garmin by 4.5% in the first quarter. Janney Montgomery Scott LLC now owns 135,709 shares of the scientific and technical instruments company’s stock worth $20,203,000 after purchasing an additional 5,863 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Garmin in the first quarter worth approximately $164,000. Nordea Investment Management AB lifted its position in Garmin by 4.4% in the first quarter. Nordea Investment Management AB now owns 10,111 shares of the scientific and technical instruments company’s stock worth $1,503,000 after purchasing an additional 430 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Garmin by 12.5% in the first quarter. Daiwa Securities Group Inc. now owns 15,122 shares of the scientific and technical instruments company’s stock worth $2,251,000 after purchasing an additional 1,677 shares during the period. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on GRMN. Tigress Financial upped their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Barclays upped their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday. Finally, StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have given 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 an average rating of “Hold” and an average target price of $162.67.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the transaction, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock valued at $2,296,174 in the last three months. 19.54% of the stock is currently owned by company insiders.

Garmin Trading Down 0.1 %

NYSE:GRMN traded down $0.17 during trading hours on Friday, hitting $198.18. 1,708,179 shares of the stock traded hands, compared to its average volume of 944,625. The firm has a 50 day moving average price of $174.22 and a 200 day moving average price of $167.80. Garmin Ltd. has a fifty-two week low of $112.01 and a fifty-two week high of $207.22. The firm has a market cap of $38.05 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 3.03 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $1.41 EPS. The company’s revenue was up 24.1% on a year-over-year basis. Research analysts predict that Garmin Ltd. will post 6.85 EPS for the current year.

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.