Greenleaf Trust Acquires 165 Shares of Garmin Ltd. (NYSE:GRMN)

Greenleaf Trust raised its holdings in Garmin Ltd. (NYSE:GRMN) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,783 shares of the scientific and technical instruments company’s stock after purchasing an additional 165 shares during the quarter. Greenleaf Trust’s holdings in Garmin were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GRMN. Private Advisor Group LLC increased its holdings in Garmin by 2.0% during the third quarter. Private Advisor Group LLC now owns 4,314 shares of the scientific and technical instruments company’s stock worth $759,000 after buying an additional 83 shares during the last quarter. Narwhal Capital Management grew its position in shares of Garmin by 15.8% during the 3rd quarter. Narwhal Capital Management now owns 22,173 shares of the scientific and technical instruments company’s stock valued at $3,903,000 after acquiring an additional 3,026 shares during the period. Eastern Bank purchased a new stake in shares of Garmin during the 3rd quarter worth approximately $176,000. Allspring Global Investments Holdings LLC lifted its stake in Garmin by 172.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,351 shares of the scientific and technical instruments company’s stock valued at $8,511,000 after purchasing an additional 30,598 shares during the last quarter. Finally, Vest Financial LLC grew its holdings in Garmin by 16.5% during the third quarter. Vest Financial LLC now owns 166,242 shares of the scientific and technical instruments company’s stock valued at $29,264,000 after purchasing an additional 23,519 shares during the period. 73.41% of the stock is owned by hedge funds and other institutional investors.

Garmin Trading Up 0.2 %

Shares of NYSE GRMN opened at $162.30 on Friday. The business has a 50-day moving average of $173.31 and a 200-day moving average of $166.17. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 2.85 and a beta of 0.99. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $184.42.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts predict that Garmin Ltd. will post 6.08 earnings per share for the current year.

Insider Buying and Selling at Garmin

In other 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 directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction on Friday, August 30th. The shares were 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 $16,081,348.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock worth $2,296,174 over the last 90 days. Corporate insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the topic of several research reports. Tigress Financial boosted their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $181.00 to $133.00 in a research note on Friday, September 13th. Three equities research 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $158.50.

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.