OneDigital Investment Advisors LLC Purchases 725 Shares of Garmin Ltd. (NYSE:GRMN)

OneDigital Investment Advisors LLC lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 11.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,318 shares of the scientific and technical instruments company’s stock after buying an additional 725 shares during the period. OneDigital Investment Advisors LLC’s holdings in Garmin were worth $1,288,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GRMN. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Garmin in the 2nd quarter worth about $31,000. Family Firm Inc. purchased a new stake in Garmin in the second quarter worth $35,000. Benjamin Edwards Inc. raised its holdings in 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 purchasing an additional 99 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Garmin in the 2nd quarter worth about $46,000. Finally, West Oak Capital LLC bought a new position in shares of Garmin in the 2nd quarter worth about $53,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of analyst reports. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $155.00 to $138.00 in a research report on Monday, October 7th. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays upped their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, Tigress Financial upped 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. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $162.67.

Insider Transactions at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 19.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,479 shares of company stock valued at $2,419,502. 19.54% of the stock is currently owned by insiders.

Garmin Price Performance

Shares of GRMN stock opened at $209.27 on Tuesday. Garmin Ltd. has a one year low of $118.79 and a one year high of $215.55. The company’s fifty day moving average price is $179.96 and its 200-day moving average price is $172.57. The company has a market capitalization of $40.19 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.17 and a beta of 0.97.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities research analysts expect that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

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.