Pallas Capital Advisors LLC Has $634,000 Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Pallas Capital Advisors LLC boosted its position in shares of Garmin Ltd. (NYSE:GRMN) by 84.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,073 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,405 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Garmin were worth $634,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its position in shares of Garmin by 6.1% during the second quarter. Private Advisor Group LLC now owns 4,231 shares of the scientific and technical instruments company’s stock worth $690,000 after purchasing an additional 244 shares during the period. Choreo LLC acquired a new position in shares of Garmin in the second quarter valued at approximately $415,000. Headlands Technologies LLC bought a new stake in shares of Garmin during the second quarter worth $46,000. American Century Companies Inc. raised its holdings in shares of Garmin by 5.9% during the second quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock worth $7,714,000 after acquiring an additional 2,651 shares during the period. Finally, Parallel Advisors LLC lifted its position in Garmin by 4.3% in the 2nd quarter. Parallel Advisors LLC now owns 4,777 shares of the scientific and technical instruments company’s stock valued at $778,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin 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 transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Garmin Stock Performance

GRMN opened at $211.73 on Wednesday. The business’s 50-day simple moving average is $211.24 and its 200 day simple moving average is $186.36. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97. The firm has a market capitalization of $40.66 billion, a PE ratio of 26.87, a PEG ratio of 1.42 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue was up 24.1% compared to the same quarter last year. On average, research analysts forecast that Garmin Ltd. will post 7.01 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.