Arkfeld Wealth Strategies L.L.C. Takes $209,000 Position in Garmin Ltd. (NYSE:GRMN)

Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,000 shares of the scientific and technical instruments company’s stock, valued at approximately $209,000.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in Garmin by 1.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after acquiring an additional 49 shares during the last quarter. HB Wealth Management LLC increased its holdings in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock valued at $788,000 after buying an additional 53 shares during the period. Outlook Wealth Advisors LLC increased its holdings in Garmin by 2.6% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock valued at $481,000 after buying an additional 58 shares during the period. Sumitomo Life Insurance Co. increased its holdings in Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after buying an additional 61 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Garmin by 8.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 804 shares of the scientific and technical instruments company’s stock valued at $166,000 after buying an additional 63 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’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 transaction of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Garmin Stock Performance

GRMN opened at $214.37 on Friday. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97. The stock has a market capitalization of $41.16 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.98. The stock’s 50 day moving average price is $211.85 and its 200-day moving average price is $189.01.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GRMN. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Tigress Financial raised their target price on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Three investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $171.00.

About Garmin

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.