Garmin Ltd. (NYSE:GRMN) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,535 shares of the scientific and technical instruments company’s stock after purchasing an additional 152 shares during the quarter. Garmin accounts for approximately 0.8% of Strong Tower Advisory Services’ portfolio, making the stock its 28th biggest position. Strong Tower Advisory Services’ holdings in Garmin were worth $2,998,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. M.E. Allison & CO. Inc. purchased a new position in shares of Garmin during the 4th quarter worth approximately $439,000. Diversify Advisory Services LLC acquired a new position in Garmin during the 4th quarter worth about $230,000. Aaron Wealth Advisors LLC purchased a new position in Garmin during the 4th quarter valued at about $229,000. BNC Wealth Management LLC boosted its stake in shares of Garmin by 6.6% in the fourth quarter. BNC Wealth Management LLC now owns 23,066 shares of the scientific and technical instruments company’s stock valued at $4,758,000 after purchasing an additional 1,424 shares during the period. Finally, Kera Capital Partners Inc. acquired a new position in shares of Garmin in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

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

Garmin Trading Up 0.4 %

Shares of NYSE GRMN opened at $215.50 on Monday. The stock has a 50 day moving average of $211.45 and a two-hundred day moving average of $187.48. The stock has a market cap of $41.38 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.26 and a beta of 0.98. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97.

Garmin (NYSE:GRMN) last announced its earnings results 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. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. As a group, research analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current year.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents 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 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.