Capital Performance Advisors LLP Invests $59,000 in Garmin Ltd. (NYSE:GRMN)

Capital Performance Advisors LLP purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) during the third quarter, Holdings Channel.com reports. The fund purchased 333 shares of the scientific and technical instruments company’s stock, valued at approximately $59,000.

A number of other large investors have also recently bought and sold shares of GRMN. Envestnet Portfolio Solutions Inc. purchased a new stake in Garmin in the first quarter valued at approximately $253,000. Empowered Funds LLC boosted its position in Garmin by 27.1% in the first quarter. Empowered Funds LLC now owns 15,184 shares of the scientific and technical instruments company’s stock valued at $2,260,000 after buying an additional 3,235 shares during the last quarter. Forsta AP Fonden boosted its position in Garmin by 9.8% in the first quarter. Forsta AP Fonden now owns 27,000 shares of the scientific and technical instruments company’s stock valued at $4,019,000 after buying an additional 2,400 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Garmin by 17.7% in the first quarter. Meeder Asset Management Inc. now owns 193,731 shares of the scientific and technical instruments company’s stock valued at $28,841,000 after buying an additional 29,160 shares during the last quarter. Finally, Inspire Advisors LLC boosted its position in Garmin by 26.9% in the first quarter. Inspire Advisors LLC now owns 6,434 shares of the scientific and technical instruments company’s stock valued at $958,000 after buying an additional 1,363 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

Shares of GRMN stock opened at $212.72 on Friday. The company has a market cap of $40.85 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.18 and a beta of 0.97. The stock has a 50 day simple moving average of $176.88 and a 200-day simple moving average of $169.94. Garmin Ltd. has a 1-year low of $115.34 and a 1-year high of $214.62.

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 return on equity of 17.99% and a net margin of 25.48%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 EPS. Analysts anticipate that Garmin Ltd. will post 6.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GRMN has been the topic of a number of recent research reports. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Tigress Financial boosted their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $162.67.

Insider Transactions at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. 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 the SEC website. In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction 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 transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. 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 the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $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 sold a total of 13,479 shares of company stock valued at $2,419,502 in the last three months. 19.54% of the stock is currently owned by company insiders.

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.