2,126 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,126 shares of the scientific and technical instruments company’s stock, valued at approximately $439,000.

Several other large investors have also made changes to their positions in GRMN. Pinnacle Bancorp Inc. bought a new position in Garmin during the fourth quarter valued at about $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin in the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Garmin in the 3rd quarter valued at approximately $39,000. Finally, Benjamin Edwards Inc. grew its stake 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. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $215.50 on Monday. The stock’s fifty day moving average price is $211.45 and its two-hundred day moving average price is $187.48. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97. The company has a market cap of $41.38 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 1.26 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm 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. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were 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 owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction on 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 owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays boosted 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. Finally, Tigress Financial boosted 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. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and an average 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.