UMB Bank n.a. Acquires 196 Shares of Garmin Ltd. (NYSE:GRMN)

UMB Bank n.a. raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,598 shares of the scientific and technical instruments company’s stock after purchasing an additional 196 shares during the period. UMB Bank n.a.’s holdings in Garmin were worth $742,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. HB Wealth Management LLC boosted its holdings in Garmin by 1.4% in the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after acquiring an additional 53 shares in the last quarter. Outlook Wealth Advisors LLC boosted its stake 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 worth $481,000 after purchasing an additional 58 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in Garmin by 0.9% during 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 purchasing an additional 61 shares during the last quarter. Tealwood Asset Management Inc. increased its stake in Garmin by 0.5% during the 4th quarter. Tealwood Asset Management Inc. now owns 15,405 shares of the scientific and technical instruments company’s stock valued at $3,177,000 after purchasing an additional 75 shares in the last quarter. Finally, Buckingham Capital Management Inc. raised its holdings in Garmin by 0.7% in the third quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock worth $2,062,000 after buying an additional 80 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value 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 trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was 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 Trading Up 1.0 %

Shares of GRMN stock opened at $217.83 on Wednesday. The stock has a market capitalization of $41.83 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.30 and a beta of 0.98. The firm’s 50 day moving average is $211.50 and its 200 day moving average is $187.87. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings data 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. Garmin’s revenue was up 24.1% compared to the same quarter last year. As a group, equities analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GRMN. Morgan Stanley cut shares of 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 report on Monday, October 7th. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Tigress Financial lifted 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. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.00.

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.