BNC Wealth Management LLC Has $4.76 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

BNC Wealth Management LLC raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,066 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,424 shares during the quarter. Garmin makes up 1.6% of BNC Wealth Management LLC’s holdings, making the stock its 21st biggest position. BNC Wealth Management LLC’s holdings in Garmin were worth $4,758,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GRMN. American Century Companies Inc. lifted its holdings in Garmin by 5.9% during the 2nd 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 during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Garmin by 8.4% during the 2nd 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 last quarter. Blair William & Co. IL lifted its holdings in Garmin by 13.1% during the 2nd quarter. Blair William & Co. IL now owns 5,592 shares of the scientific and technical instruments company’s stock valued at $911,000 after purchasing an additional 649 shares during the last quarter. Brighton Jones LLC lifted its holdings in Garmin by 5.8% during the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after purchasing an additional 83 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Garmin by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 34,869 shares of the scientific and technical instruments company’s stock worth $5,681,000 after buying an additional 4,895 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now directly 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 Stock Performance

Shares of NYSE GRMN opened at $215.50 on Friday. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The stock has a market capitalization of $41.38 billion, a P/E ratio of 27.35, a PEG ratio of 1.26 and a beta of 0.98. The stock’s fifty day moving average is $211.45 and its 200 day moving average is $187.30.

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 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 company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business earned $1.41 earnings per share. Garmin’s revenue was up 24.1% on a year-over-year basis. Equities research analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GRMN shares. Tigress Financial lifted their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Barclays lifted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three research 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $171.00.

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.