Amalgamated Bank Buys 3,975 Shares of Garmin Ltd. (NYSE:GRMN)

Amalgamated Bank increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,188 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,975 shares during the quarter. Amalgamated Bank’s holdings in Garmin were worth $6,194,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GRMN. Clearstead Trust LLC bought a new stake in shares of Garmin during the first quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Garmin during the 2nd quarter worth approximately $31,000. Family Firm Inc. bought a new stake in Garmin in the 2nd quarter valued at $35,000. Benjamin Edwards Inc. grew its holdings in Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Garmin during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GRMN. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Tigress Financial boosted their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Finally, StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $162.67.

Insiders Place Their Bets

In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is currently owned by corporate insiders.

Garmin Trading Up 2.7 %

NYSE GRMN opened at $209.67 on Thursday. The firm’s 50 day simple moving average is $175.69 and its 200 day simple moving average is $169.15. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 3.22 and a beta of 0.97. Garmin Ltd. has a 1 year low of $114.49 and a 1 year high of $210.33.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $1.41 EPS. The company’s revenue was up 24.1% compared to the same quarter last year. On average, equities research analysts forecast that Garmin Ltd. will post 6.52 earnings per share 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.