Garmin Ltd. (NYSE:GRMN) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 24.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,529 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,415 shares during the quarter. Advisors Asset Management Inc.’s holdings in Garmin were worth $3,086,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Garmin during the second quarter worth about $31,000. Family Firm Inc. purchased a new stake in shares of Garmin in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. boosted its position in shares of Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares during the period. Headlands Technologies LLC purchased a new position in Garmin during the 2nd quarter worth approximately $46,000. Finally, West Oak Capital LLC acquired a new position in Garmin during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Stock Up 0.6 %

Shares of NYSE:GRMN opened at $210.33 on Friday. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $215.55. The company has a market cap of $40.39 billion, a PE ratio of 26.68, a P/E/G ratio of 3.28 and a beta of 0.97. The company’s 50-day moving average price is $182.77 and its 200 day moving average price is $173.94.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. The company 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 company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. As a group, equities analysts anticipate that Garmin Ltd. will post 6.68 EPS for the current year.

Insider Buying and Selling

In other Garmin news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, Director Philip Straub sold 2,750 shares of Garmin 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 transaction, the director now owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,424 shares of company stock worth $638,159 in the last ninety days. 19.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GRMN shares. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial raised their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.67.

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.