Garmin Ltd. (NYSE:GRMN) Shares Purchased by FSM Wealth Advisors LLC

FSM Wealth Advisors LLC grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 20.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,708 shares of the scientific and technical instruments company’s stock after purchasing an additional 285 shares during the period. FSM Wealth Advisors LLC’s holdings in Garmin were worth $301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Life Insurance Co. increased its position in shares of Garmin by 0.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after acquiring an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co increased its stake in shares of Garmin by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after buying an additional 70 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Garmin by 3.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after acquiring an additional 73 shares in the last quarter. UMB Bank n.a. increased its position in shares of Garmin by 2.6% in the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after purchasing an additional 74 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of Garmin by 5.8% in the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after purchasing an additional 83 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Up 1.0 %

Shares of NYSE:GRMN opened at $200.24 on Tuesday. The company has a 50 day moving average of $174.63 and a 200-day moving average of $168.41. The firm has a market cap of $38.45 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.99 and a beta of 0.97. Garmin Ltd. has a twelve month low of $114.49 and a twelve month high of $207.22.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. Equities research analysts forecast that Garmin Ltd. will post 6.94 EPS for the current year.

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the company’s 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 in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Philip Straub sold 2,750 shares of the business’s 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 12,892 shares of company stock valued at $2,296,174 in the last ninety days. Company insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented 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 report on Thursday, September 19th. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays lifted their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $162.67.

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.