Larson Financial Group LLC Buys 162 Shares of Garmin Ltd. (NYSE:GRMN)

Larson Financial Group LLC raised its stake in Garmin Ltd. (NYSE:GRMN) by 578.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190 shares of the scientific and technical instruments company’s stock after buying an additional 162 shares during the quarter. Larson Financial Group LLC’s holdings in Garmin were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRMN. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin in the 2nd quarter valued at $31,000. Family Firm Inc. acquired a new position in Garmin in the second quarter valued at about $35,000. Benjamin Edwards Inc. increased its holdings in shares of Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Garmin during the second quarter worth about $46,000. Finally, West Oak Capital LLC bought a new position in shares of Garmin during the 2nd quarter valued at about $53,000. Institutional investors own 73.41% of the company’s stock.

Garmin Trading Up 0.2 %

Shares of GRMN opened at $212.60 on Friday. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $216.44. The firm has a fifty day simple moving average of $186.92 and a 200 day simple moving average of $175.49. The stock has a market capitalization of $40.82 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.40 and a beta of 0.97.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. Garmin’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, research analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Tigress Financial increased their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Barclays raised their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $162.67.

Insider Transactions at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value 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. This represents a 8.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.54% of the company’s stock.

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.