Garmin Ltd. (NYSE:GRMN) Shares Bought by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,405 shares of the scientific and technical instruments company’s stock after buying an additional 75 shares during the quarter. Garmin accounts for about 1.3% of Tealwood Asset Management Inc.’s portfolio, making the stock its 13th largest holding. Tealwood Asset Management Inc.’s holdings in Garmin were worth $3,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp boosted its position in Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after purchasing an additional 134,303 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Garmin by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after purchasing an additional 112,815 shares during the period. FMR LLC boosted its holdings in Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after buying an additional 1,093,219 shares in the last quarter. Select Equity Group L.P. grew its position in Garmin by 0.6% during the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock valued at $326,909,000 after buying an additional 11,666 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Garmin by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock valued at $282,761,000 after buying an additional 13,968 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GRMN has been the topic of several recent analyst reports. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial increased their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three 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, Garmin presently has a consensus rating of “Hold” and an average price target of $171.00.

Garmin Trading Down 0.5 %

GRMN stock opened at $208.13 on Tuesday. The business’s 50-day moving average is $211.09 and its 200 day moving average is $186.02. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97. The stock has a market cap of $39.97 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 1.42 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 earnings per share. As a group, equities analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Garmin Company 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.