Outlook Wealth Advisors LLC Increases Stock Position in Garmin Ltd. (NYSE:GRMN)

Outlook Wealth Advisors LLC raised its position in Garmin Ltd. (NYSE:GRMN) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,332 shares of the scientific and technical instruments company’s stock after purchasing an additional 58 shares during the period. Outlook Wealth Advisors LLC’s holdings in Garmin were worth $481,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Private Advisor Group LLC boosted its position in Garmin by 6.1% during the second quarter. Private Advisor Group LLC now owns 4,231 shares of the scientific and technical instruments company’s stock worth $690,000 after purchasing an additional 244 shares in the last quarter. Headlands Technologies LLC purchased a new position in Garmin during the second quarter valued at $46,000. American Century Companies Inc. lifted its holdings in Garmin by 5.9% during the second quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock valued at $7,714,000 after purchasing an additional 2,651 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Garmin by 8.4% in the second quarter. Envestnet Asset Management Inc. now owns 163,517 shares of the scientific and technical instruments company’s stock valued at $26,640,000 after purchasing an additional 12,616 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Garmin by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after purchasing an additional 13,968 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

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

Garmin Stock Up 0.5 %

Shares of GRMN stock opened at $213.24 on Thursday. The firm has a 50 day moving average of $211.32 and a two-hundred day moving average of $186.55. The stock has a market capitalization of $40.95 billion, a PE ratio of 27.06, a P/E/G ratio of 1.26 and a beta of 0.98. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97.

Garmin (NYSE:GRMN) last issued its quarterly 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the business earned $1.41 EPS. Garmin’s revenue was up 24.1% on a year-over-year basis. Analysts expect that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.