Catalina Capital Group LLC Increases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Catalina Capital Group LLC lifted its stake in Garmin Ltd. (NYSE:GRMN) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,418 shares of the scientific and technical instruments company’s stock after purchasing an additional 117 shares during the quarter. Catalina Capital Group LLC’s holdings in Garmin were worth $250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GRMN. Nordea Investment Management AB boosted its holdings in shares of Garmin by 4.4% in the 1st 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. Mediolanum International Funds Ltd purchased a new position in shares of Garmin in the 1st quarter worth approximately $921,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Garmin in the 1st quarter worth approximately $253,000. Empowered Funds LLC boosted its holdings in shares of Garmin by 27.1% in the 1st quarter. Empowered Funds LLC now owns 15,184 shares of the scientific and technical instruments company’s stock worth $2,260,000 after purchasing an additional 3,235 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Garmin by 184.3% during the 1st quarter. SG Americas Securities LLC now owns 198,100 shares of the scientific and technical instruments company’s stock worth $29,491,000 after acquiring an additional 128,429 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Transactions at Garmin

In other news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on 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 directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. Corporate insiders own 19.54% of the company’s stock.

Garmin Stock Up 2.7 %

Shares of NYSE GRMN opened at $209.67 on Thursday. The business has a fifty day simple moving average of $175.69 and a two-hundred day simple moving average of $169.15. The firm has a market cap of $40.26 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97. Garmin Ltd. has a twelve month low of $114.49 and a twelve month high of $210.33.

Garmin (NYSE:GRMN) last released its quarterly 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business’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 EPS. On average, research analysts expect that Garmin Ltd. will post 6.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GRMN shares. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays raised 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. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Tigress Financial raised their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $162.67.

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.