Westmount Partners LLC Acquires 1,000 Shares of Garmin Ltd. (NYSE:GRMN)

Westmount Partners LLC grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 73.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,363 shares of the scientific and technical instruments company’s stock after buying an additional 1,000 shares during the quarter. Westmount Partners LLC’s holdings in Garmin were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Czech National Bank lifted its holdings in shares of Garmin by 6.3% during the 4th quarter. Czech National Bank now owns 33,308 shares of the scientific and technical instruments company’s stock valued at $6,870,000 after buying an additional 1,984 shares during the period. Park National Corp OH purchased a new stake in shares of Garmin in the 4th quarter worth $217,000. Diversified Trust Co purchased a new stake in shares of Garmin in the 4th quarter worth $734,000. CWA Asset Management Group LLC increased its stake in shares of Garmin by 0.9% in the 4th quarter. CWA Asset Management Group LLC now owns 67,856 shares of the scientific and technical instruments company’s stock worth $13,996,000 after purchasing an additional 597 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Garmin by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 3,521 shares of the scientific and technical instruments company’s stock worth $726,000 after purchasing an additional 305 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GRMN shares. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays increased their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Tigress Financial increased their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $171.00.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of Garmin stock traded down $1.33 during trading on Monday, reaching $207.83. 333,829 shares of the stock traded hands, compared to its average volume of 632,485. The company has a market capitalization of $39.91 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 1.42 and a beta of 0.98. The business has a fifty day simple moving average of $210.93 and a two-hundred day simple moving average of $185.69. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, research analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current fiscal 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.